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S. Vaidya Nathan

Hindustan Lever and BHEL have been the two additions to the portfolio of IL & FS Growth Fund in January 2004.

BHEL is one of the top holdings of the fund.

It has, however, not exited from any stock. In a volatile month for equities, the fund shuffled its holdings of large-cap stocks.

Enhanced exposures: The fund has stepped up its exposures to stocks such as Maruti Udyog, Crompton Greaves, Larsen & Toubro, i-flex solutions, Ranbaxy Labs, Satyam Computer, Infosys and Sesa Goa.

Pared exposures: It has reduced its holdings in Grasim, Hindalco, Ashok Leyland, Reliance Industries, Indian Oil, State Bank of India, Bank of Baroda, Bharti Tele-Ventures, UTI Bank and Tata Steel.

Key unchanged exposures: Tata Motors, Sesa Goa, Lupin, Thermax and Bajaj Auto.

Top ten holdings: Reliance Industries, SBI, Infosys, Grasim, Maruti Udyog, Bharti Tele-Ventures, Sesa Goa, BHEL, Larsen & Toubro and UTI Bank.

Sector preferences: IL & FS Growth & Value Fund has enhanced its exposures to the engineering and information technology sectors.

It has cut its holdings to the banking stocks. It has added to its holdings in Maruti Udyog and raised its exposure to the automobile sector.

Mid-Sized Fund: IL & FS Growth & Value Fund is a mid-sized fund with an asset base of about Rs 275 crore.

It has invested up to 95 per cent of its assets in equities. The fund has generated returns of 137 per cent over the past one year.

Annual returns since its launch in October 1999 is 27 per cent.

This fund will soon become a part of the UTI Mutual fold as the latter is set to acquire IL & FS Mutual.

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