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Contrarian bets in market peaks: Midcap stocks that have turned contra fund favourites
Contra funds identify out of favour stocks due to short term challenges that could have potential to show a turnaround
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Contra mutual fund schemes look for stocks that are either beaten up or have not run up much comparably and are available at reasonable valuation but having high potential to show a turnaround. Three mutual fund schemes - Invesco India Contra, Kotak India EQ Contra and SBI Contra Fund - now predominantly follow the contra strategy. The contra strategy is associated with long-term investing. These funds select the stocks when the economy runs into a rough phase and many of the sectors underperform. This, in turn, could help the funds to deliver better returns when the economy turns around. It is worth looking at their recent additions to their portfolio, given in the highly volatile peaking markets with strong fund flows, whereas most of the stocks are traded at rich valuations. Here are the top midcap stocks that were added by contra funds in their portfolio over the last six months. Data as of September 30, 2023. [Source: ACEMF]
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The Federal Bank
Scheme that newly added the stock: SBI Contra Fund
Scheme that newly added the stock: SBI Contra Fund
3/14
Voltas
Scheme that newly added the stock: Kotak India EQ Contra Fund
Also see: Hot auto stocks added by mutual funds
Scheme that newly added the stock: Kotak India EQ Contra Fund
Also see: Hot auto stocks added by mutual funds
4/14
Coforge
Scheme that newly added the stock: SBI Contra Fund
Scheme that newly added the stock: SBI Contra Fund
5/14
FSN E-Commerce Ventures
Scheme that newly added the stock: SBI Contra Fund
Also see: 15 smallcap gems that category III AIFs love to hold
Scheme that newly added the stock: SBI Contra Fund
Also see: 15 smallcap gems that category III AIFs love to hold
6/14
Vinati Organics
Scheme that newly added the stock: Invesco India Contra Fund
Scheme that newly added the stock: Invesco India Contra Fund
7/14
Petronet LNG
Scheme that newly added the stock: SBI Contra Fund
Scheme that newly added the stock: SBI Contra Fund
8/14
Sun TV Network
Scheme that newly added the stock: Kotak India EQ Contra Fund
Also see: MF industry added these stocks afresh in September. Do you own any?
Scheme that newly added the stock: Kotak India EQ Contra Fund
Also see: MF industry added these stocks afresh in September. Do you own any?
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Cummins India
Scheme that newly added the stock: SBI Contra Fund
Also see: Check out these MF favourite sectors that are undergoing business upcycle
Scheme that newly added the stock: SBI Contra Fund
Also see: Check out these MF favourite sectors that are undergoing business upcycle
10/14
Bandhan Bank
Scheme that newly added the stock: Kotak India EQ Contra Fund
Scheme that newly added the stock: Kotak India EQ Contra Fund
11/14
Info Edge (India)
Scheme that newly added the stock: SBI Contra Fund
Also see: Hot stocks added by top smallcap funds in September
Scheme that newly added the stock: SBI Contra Fund
Also see: Hot stocks added by top smallcap funds in September
12/14
Fortis Healthcare
Scheme that newly added the stock: Kotak India EQ Contra Fund
Scheme that newly added the stock: Kotak India EQ Contra Fund
13/14
Macrotech Developers
Scheme that newly added the stock: Invesco India Contra Fund
Scheme that newly added the stock: Invesco India Contra Fund
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Shriram Finance
Scheme that newly added the stock: Kotak India EQ Contra Fund
Also see: Time to rebalance your portfolio? Check out these aggressive hybrid funds that provide stability and high growth
Scheme that newly added the stock: Kotak India EQ Contra Fund
Also see: Time to rebalance your portfolio? Check out these aggressive hybrid funds that provide stability and high growth
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