Roaring multi-asset mutual funds bet on these midcap stocks. Do you own any?
Besides debt, commodities, and REITs & InvITs, multi-asset allocation mutual funds mainly invest in equities from different market capitalisation categories. They held about 13 percent of their equity portion in midcap stocks
Multi-Asset Allocation Funds (MAFs) have been on a roll lately. A category of hybrid mutual funds (MF), MAFs topped the charts delivering a category average return of 9.5 percent in the last one-year, while aggressive hybrid funds and balanced advantage funds (BAF) clocked 8.4 percent and 7.7 percent, respectively. Aggressive hybrid funds are those that invest maximum 65-80 percent in equities and the rest in debt while Balanced advantage funds can change their debt-equity mix per market conditions. MAFs allocate their corpus across equity, debt, commodities (ETFs of gold and silver), and units of real estate investment trusts (REIT) and infrastructure investment trusts (InvIT). The allocation towards gold (about 10 percent of the assets) has helped MAFs deliver better returns than other hybrid fund categories over the last one year. MAFs also pick equities from different market capitalization. As per the latest date, they held about 13 percent of their equity portion in midcap stocks. Here are the top midcap stocks held by these funds. The portfolio data is as of March 31, 2023. Source: ACEMF.
2/13
Federal Bank Number of MAFs that hold the stock: 5. Sample of MAFs that hold the stock: UTI Multi-Asset Fund and Nippon India Multi-Asset Fund
3/13
Gland Pharma Number of MAFs that hold the stock: 4. Sample of MAFs that hold the stock: Axis Multi-Asset Allocation Fund and ICICI Pru Multi-Asset Fund
4/13
Ashok Leyland Number of MAFs that hold the stock: 4. Sample of MAFs that hold the stock: Aditya Birla Sun Life Multi-Asset Allocation Fund and Nippon India Multi-Asset Fund
The Indian Hotels Company Number of MAFs that hold the stock: 4. Sample of MAFs that hold the stock: UTI Multi-Asset Fund and Nippon India Multi-Asset Fund
AIA Engineering Number of MAFs that hold the stock: 3. Sample of MAFs that hold the stock: UTI Multi-Asset Fund and Nippon India Multi-Asset Fund
8/13
Lupin Number of MAFs that hold the stock: 3. Sample of MAFs that hold the stock: ICICI Pru Multi-Asset Fund and Aditya Birla Sun Life Multi-Asset Allocation Fund
Bharat Forge Number of MAFs that hold the stock: 3. Sample of MAFs that hold the stock: Tata Multi-Asset Opportunities Fund and HDFC Multi-Asset Fund
12/13
Biocon Number of MAFs that hold the stock: 3. Sample of MAFs that hold the stock: Aditya Birla Sun Life Multi-Asset Allocation Fund and ICICI Pru Multi-Asset Fund
