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Shanthi Venkataraman

FRANKLIN India Prima Fund is a top-performing equity fund with a focus on mid-cap and small-cap stocks.

The fund appears to have made several changes in its portfolio in terms of stock selection in June.

It has liquidated some of its smaller holdings such as Goetze India, Andhra Bank, Reliance Capital, Gujarat Mineral Development Corporation, Coromandel Fertilisers, Cummins India and Indian Hotels.

Holdings in almost all these stocks accounted for less than one per cent of assets in May. The fund has also pared exposures in the stocks of Crompton Greaves and Bank of Baroda by more than 50 per cent.

The stocks of Lupin and Sesa Goa are the only additions to the portfolio. The fund appears to have ramped up its holdings in the automobile and pharmaceutical sectors. Stocks in which exposure has been enhanced include Torrent Pharma, IPCA, MphasiS BFL and Hindustan Construction, to name a few.

Holdings in more than 50 per cent of the stocks have remained unchanged. These include Amtek Auto, Eicher Motors, Kotak Mahindra Bank, NDTV, Madras Cements, Wockardt, Trent and Datamatics to name a few.

Top ten holdings: Raymond, MICO, Amtek Auto, Ashok Leyland, Eicher Motors, LIC Housing Finance, Indian Rayon, Mphasis BFL, GE Shipping and IPCA labs.

Fund facts: Franklin India Prima was launched in December 1993. The fund has an asset base of Rs 633 crore. It offers dividend and growth options. The minimum investment is Rs 5,000. The entry load is 2.25 per cent. There is no exit load. The fund managers are Mr K.N. Sivasubrammanian and Mr Satish Ramanathan.

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