The Nifty Bank index extended its second year of underperformance against the market barometers in 2021. Banking stocks put-up a muted show over the last two years due to uncertainty over slippages and asset quality issues of banks during the lockdown. Experts believe that rising credit growth and easing bad loans will improve the prospects of banking stocks in the future. Banking has been the most preferred sector for MFs, accounting for about one-fifth of the industry’s equity AUM (assets under management). Large banks with strong balance sheets and formidable deposit franchises have been the preferred bets for mutual funds. Here is the list of banking stocks bought by mutual funds over the last two months. Value as of December 31, 2021. Source: ACEMF.
2/11
Number of schemes that newly added the stock: 22 | Total number of schemes that held the stock: 476. ICICI Bank has been the most preferred stock among mutual funds. Schemes that added the stock afresh in their portfolio over the last two months include Aditya Birla SL Business Cycle, Quant Quantamental, HDFC Multi Cap, Axis Multicap and ICICI Pru ESG fund.
3/11
Number of schemes that newly added the stock: 9 | Total number of schemes that held the stock: 286. Some of the schemes that added the stock of Kotak Mahindra Bank afresh include L&T Equity Savings, Franklin India Bluechip, Nippon India Banking & Financial Services, Union Large & Midcap and Aditya Birla SL Business Cycle fund.
4/11
Number of schemes that newly added the stock: 7 | Total number of schemes that held the stock: 373. ICICI Pru Retirement Fund-Pure Equity, Aditya Birla SL Business Cycle, Nippon India Consumption, LIC MF Balanced Advantage and NJ Balanced Advantage Fund were few schemes bought the stock of Axis bank newly over the last two months.
5/11
Number of schemes that newly added the stock: 7 | Total number of schemes that held the stock: 53. Axis Balanced Advantage, DSP Dynamic Asset Allocation, Edelweiss Large & Midcap Index Fund, HDFC Multi Cap, HDFC Multi-Asset and UTI Multi Asset Fund were few schemes added the Bandhan Bank’s stock afresh in their portfolio.
6/11
Number of schemes that newly added the stock: 7 | Total number of schemes that held the stock: 103. Schemes like Quant Value, IDFC Multi Cap, IDFC Sterling Value, Sundaram Large and Mid Cap, DSP Equity Opportunities and ICICI Pru Value Discovery Fund newly added the stock of Bank Of Baroda in the last two months.
7/11
Number of schemes that newly added the stock: 6 | Total number of schemes that held the stock: 58. IDFC Multi Cap, IDFC Tax Advt(ELSS), NJ Balanced Advantage, Quant Tax and Sundaram Small Cap were the few schemes bought the stock newly over the last two months.
8/11
Number of schemes that newly added the stock: 6 | Total number of schemes that held the stock: 37. Hybrid funds like Axis Balanced Advantage, DSP Equity Savings, NJ Balanced Advantage and UTI Multi Asset Fund newly added the stock of the IDFC First Bank.
9/11
Number of schemes that newly added the stock: 6 | Total number of schemes that held the stock: 57. Aditya Birla SL Balanced Advantage, HDFC Equity Savings, NJ Balanced Advantage, PGIM India Equity Savings and Sundaram Balanced Advantage were the few schemes added the stock afresh in their portfolio.
10/11
Number of schemes that newly added the stock: 4 | Total number of schemes that held the stock: 398. Few schemes that added the stock of SBI afresh in their portfolio over the last two months include Aditya Birla SL Business Cycle, Canara Rob Conservative Hybrid, HDFC Multi Cap, ITI Banking & Financial Services, Sundaram Mid Cap and Sundaram Small Cap Fund.
11/11
Number of schemes that newly added the stock: 2 | Total number of schemes that held the stock: 35. PGIM India Small Cap and Tata Small Cap Fund added the stock afresh in their portfolio over the last two months.
