Financial Daily from THE HINDU group of publications
Sunday, Jun 20, 2004
Financial Daily from THE HINDU group of publications Sunday, Jun 20, 2004 |
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Investment World
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Mutual Funds Markets - Mutual Funds DSP ML Top 100 Equity fund Shanthi Venkataraman
DSP ML Top 100 Equity Fund appears to have pared exposures in quite a few stocks in its portfolio in May. Stocks in which exposures have been substantially pared include Mahindra & Mahindra, GAIL, Maruti Udyog, ICICI Bank and Bharat Electronics. The fund has also completely exited the stocks of IPCL, Bharat Forge and Shipping Corporation. Cash now accounts for 7 per cent of the total assets as against 5.5 per cent in April. The stock of L&T appears to be the only addition to its portfolio. There was a substantial increase in the exposure to the stock of Kotak Mahindra Bank, even as the fund cut exposures in other banking stocks such as SBI, ICICI Bank and Vijaya Bank. Other stocks in which holdings were enhanced include Biocon, BPCL and Hero Honda. In terms of sectoral holdings, stocks belonging to the IT sector, banking sector and diversified stocks constitute the fund's top three holdings. The fund has cut its exposures in all stocks of the oil sector except in that of BPCL, in which holdings have been increased by 15 per cent. The oil sector still remains to be one of the larger holdings of the fund, although it is not among the top three holdings as was the case in April. The top ten holdings of the fund are Grasim, Infosys, SBI, Hero Honda, Reliance Industries, ONGC, ITC, HCL Technologies, Sun Pharma and Wockhardt. Fund facts: DSP ML Top 100 Equity is an open-ended scheme, which was launched in February 2003. The fund offers both dividend and growth options. The minimum application amount is Rs 1,000. The entry load for the fund is 2 per cent for investments less than Rs 5 crore; there is no charge for investments greater than Rs 5 crore. There is no exit load.
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