After put-up a solid show in 2022, mutual funds that investing primarily in banking and financial services stocks were worst hit, since the start of 2023. They are the bottom performers among the equity fund categories and have lost about 9% during this period. A strong sell-off foreign portfolio investors (FPIs) and the failure of SVB and Signature Bank spooked investors. But smart fund managers saw an opportunity in this correction. Experts say the valuation of these stocks have become attractive. Here is the list of banking stocks that were newly added by most number of PMS strategies in February. Data as of February 28, 2023. Source: Finalyca – PMSBazaar.
2/10
ICICI Bank No. of PMS strategies that newly added the stock: 5 Total no. of PMS strategies that held the stock: 124
3/10
Equitas Small Finance Bank No. of PMS strategies that newly added the stock: 5 Total no. of PMS strategies that held the stock: 5
4/10
State Bank of India No. of PMS strategies that newly added the stock: 4 Total no. of PMS strategies that held the stock: 84
