Sensex @ 71,000; How larger asset equity MF schemes tweaked their portfolio

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.

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.

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.

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HDFC Mid-Cap Opportunities Fund
Category: Mid cap fund
Fund manager(s): Chirag Setalvad
5 year return (CAGR): 22.9%

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%

ICICI Prudential Bluechip Fund
Category: Large Cap Fund
Fund manager(s): Anish Tawakley and Vaibhav Dusad
5 year return (CAGR): 16.8%

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HDFC Flexi Cap Fund
Category: Flexi Cap Fund
Fund manager(s): Roshi Jain
5 year return (CAGR): 19.2%

Kotak Flexicap Fund
Category: Flexi Cap Fund
Fund manager(s): Harsha Upadhyaya
5 year return (CAGR): 15.2%

Nippon India Small Cap Fund
Category: Small Cap Fund
Fund manager(s): Samir Rachh and Tejas Sheth
5 year return (CAGR): 28%

SBI BlueChip Fund
Category: Large Cap Fund
Fund manager(s): Sohini Andani
5 year return (CAGR): 15.8%

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Kotak Emerging Equity Fund
Category: Mid Cap Fund
Fund manager(s): Harsha Upadhyaya
5 year return (CAGR): 22%

Mirae Asset Large Cap Fund
Category: Large Cap Fund
Fund manager(s): Gaurav Misra and Gaurav Khandelwal
5 year return (CAGR):14.4 %

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ICICI Pru Value Discovery Fund
Category: Value Fund
Fund manager(s): Sankaran Naren and Dharmesh Kakkad
5-year return (CAGR): 20.8%

Axis ELSS Tax Saver Fund
Category: ELSS
Fund manager(s): Shreyash Devalkar and Ashish Naik
5-year return (CAGR): 12.8%

Axis Bluechip Fund
Category: Large Cap Fund
Fund manager(s): Shreyash Devalkar, Ashish Naik and Vinayak Jayanath
5-year return (CAGR): 13.4%

Also see: Playing Safe: Large-Cap stocks that Mutual Funds have consistently added

SBI Focused Equity Fund
Category: Focused Fund
Fund manager(s): R. Srinivasan and Mohit Jain
5-year return (CAGR): 16.5%

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%

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