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Shanthi Venkataraman

A COMPLETE exit from steel stocks was the only significant change in the portfolio of HDFC Growth fund in June.

Tata Steel and Jindal Stainless were the two stocks that had comprised the steel sector holdings of the portfolio. The stock of Tata Steel was also one of the top ten holdings of the fund in May.

In terms of sectoral allocation, the pharmaceutical sector, which originally was the top holding of the fund, has slipped to the second position. This was mainly due to a significant cut in the fund's holdings in the stock of Sun Pharmaceuticals. The stock was again, one of the top ten holdings of the fund. The banking sector is now the largest holding of the fund.

The only addition to the fund was the stock of Grasim. The fund has also enhanced exposures in the stocks of GE Shipping, IPCA labs, GNFC and LIC Housing Finance. It has reduced its holding in Ashok Leyland. The holdings in all other stocks remain unchanged.

Top ten holdings: Goodlass Nerolac, Hero Honda, GE Shipping, SBI, ACC, IOB, Ranbaxy, Bharat Electronics, IPCA Laboratories and Infosys.

Fund facts: HDFC Growth fund was launched in August 2000. The fund has an asset base of Rs 282 crore. The minimum investment amount is Rs 5,000. The fund offers dividend and growth options. The entry load is 2 per cent up to Rs 2 crore and 0.25 per cent for amounts between Rs 2 crore and Rs 5 crore; there is no entry load for amounts above Rs 5 crore. There is no exit load. The fund manager is Sanjoy Bhattacharya.

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