Here's where funds cut exposure in 2023: Check your portfolio

In a bull market, a few sectors lead while the others lag. Over the last one year, the Indian equity market surged remarkably thanks to improved earnings, FII buying, and favourable macros. With changing market dynamics, many sectors turned attractive while some went out of favour. Active fund managers sense these changes early and reposition their portfolios accordingly. Here are the sub-sectors wherein the active mutual fund managers trimmed their position over the last six months. Fund managers cut their positions in the stocks within these sectors as either the stocks might have attained their target prices or the sectors turned unattractive. Only actively managed equity schemes and hybrid schemes (except arbitrage funds) are considered for compilation. Data as of June 2023. Source: ACEMF.

Port
Market value of MF investment: Rs 2,877 crore
Change in market value (in %) over the last six months: -33%
Sample of stocks wherein MF cut exposure: Adani Ports and Special Economic Zone

Trading
Market value of MF investment: Rs 2,001 crore
Change in market value (in %) over the last six months: -32%
Sample of stocks wherein MF cut exposure: SIRCA Paints India

Also see: These 15 smallcaps are hot favourites of mutual fund managers

Metal - Non Ferrous
Market value of MF investment: Rs 8,137 crore
Change in market value (in %) over the last six months: -21%
Sample of stocks wherein MF cut exposure: Hindalco Industries, Hindustan Copper, Hindustan Zinc and Vedanta

Aluminium & Aluminium Products
Market value of MF investment: Rs 717 crore
Change in market value (in %) over the last six months: -20%
Sample of stocks wherein MF cut exposure: National Aluminium Company

Also see: 13 midcap stocks that are most shunned by active mutual fund managers

Bank - Public
Market value of MF investment: Rs 60,639 crore
Change in market value (in %) over the last six months: -15%
Sample of stocks wherein MF cut exposure: Bank Of Baroda, Bank Of Maharashtra and Union Bank Of India

Also read: Cautious of market highs, these large-caps exit MF portfolio