Reliance Equity Fund buys IT, tobacco; sells cement, engg

Reliance Equity Fund augmented its weightage to IT, tobacco, while pared coverage to cement & construction, engineering & capital goods, banking and telecom sectors. (View - What is Reliance Equity Fund buying / selling?)

The study of scheme for the month of January 2009 reveals that in the IT pack, it purchased TCS and in the tobacco segment, it introduced ITC.

There is rise in the weightage of the oil & gas and auto lot due to the increase in the prices of the stocks held by the scheme.

In the cement & construction space, it exited Jaiprakash Associates. It sold Punj Lloyd in the engineering & capital goods segment.

The scheme sold SBI in the banking & financial pack. In the telecom sector, it sold Bharti Airtel.

SBI, Divis Labs and Reliance Industries were the top stocks held by the scheme in January. Banking (14.12%), Pharma (9.97%) and Telecom (8.59%) were the top invested sectors in the scheme's portfolio. (Check out - Top stocks held by Reliance Equity Fund).

The equity exposure of the scheme has decreased from 70.04% to 63.75%. The cash exposure of the scheme has increased from 28.98% to 34.40%. The total assets managed by the scheme were Rs 1644.39 crore as on January 31, 2009.
 
Over the last one-year, Reliance Equity Fund has yielded -41.2% returns as against -44.61% yielded by its benchmark S&P CNX NIFTY as on February 6, 2009.

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