Sensex @ 71,000; How larger asset equity MF schemes tweaked their portfolio
The schemes with larger asset size barring smallcap funds have followed buy and hold strategy and deployed the incremental corpus within their existing stocks holdings
When equity markets climb to new highs, it poses different challenges to large-sized equity funds, depending on what their mandates are. The S&P BSE Sensex index crossed the 71,000-point mark for the first time on December 15. The equity mutual funds schemes with large asset sizes became larger not only by the capital appreciation but also due to the significant inflows.
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Rising equity markets bring more inflows, especially from retail investors. Typically, the larger schemes get more inflows, as investors find comfort in track record. Hence, it’s interesting to check how the largest equity funds tweaked their strategy and adapted to rising markets. Moneycontrol considered 14 active equity schemes that have the asset size of more than Rs 30,000 crore for the study.
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Here are the top newly added stocks of the larger asset-sized schemes in the last six months. Portfolio data as of November 2023. Source: ACEMF.
Parag Parikh Flexi Cap Fund Category: Flexi Cap Fund Fund manager(s): Rajeev Thakkar, Rukun Tarachandani, Raunak Onkar and Raj Mehta 5 year return (CAGR): 22.4%
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ICICI Prudential Bluechip Fund Category: Large Cap Fund Fund manager(s): Anish Tawakley and Vaibhav Dusad 5 year return (CAGR): 16.8%
SBI Focused Equity Fund Category: Focused Fund Fund manager(s): R. Srinivasan and Mohit Jain 5-year return (CAGR): 16.5%
17/17
Mirae Asset Large & Midcap Fund (Formerly, Mirae Asset Emerging Bluechip Fund) Category: Large & Mid Cap Fund manager(s): Neelesh Surana and Ankit Jain 5-year return (CAGR): 19.7%
