Financial Daily from THE HINDU group of publications
Sunday, Sep 26, 2004
Financial Daily from THE HINDU group of publications Sunday, Sep 26, 2004 |
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Investment World
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Mutual Funds Markets - Mutual Funds Sundaram Select Midcap
Several stocks were added to the portfolio of Sundaram Select Midcap fund in August, a month that witnessed tremendous action in midcap stocks. The fund enjoyed strong inflows during the month of August; the net asset value of the fund appreciated by only 10 per cent while the asset base surged by about 20 per cent. The strong inflows could partly explain the significant cash position at about 12 per cent of total assets. The prominent additions to the portfolio include Trent, Prism Cements, KSB Pumps and Tata Metaliks. The stocks of Kesoram Industries and Kalyani Brakes were also added, even as the fund liquidated its holdings in the stocks of Essar Steel, Century Textiles and Gujarat Alkalis. Exposures to the stocks of South East Asian Marine Engineering, KEC International, Ballarpur Industries, Lakshmi Machine Works, Geometric Software were hiked by more than 50 per cent. The fund, however, pared exposures to the stocks of Bajaj Hindusthan, Blue Dart Express, Welspun Gujarat Stahl Rohren, Amtek Auto, Man Industries and Shasun Chemicals, to name a few. The stocks in which holdings remained unchanged include IVRCL, IPCA Labs, Mahavir Spinning, Karur Vysya Bank and Usha Martin. Top ten holdings: Balrampur Chini, Kirloskar Oil, Bajaj Hindustan, Micro Inks, United Phosphorous, Sundram Clayton, IVRCL, IPCA Laboratories, Aarti Industries and Blue Dart Express. Fund facts: Sundaram Select Midcap was launched in July 2002. It has generated a return of 60 per cent since its launch and about 66 per cent in the last one year. The fund has an asset base of Rs 127 crore. It offers dividend and growth options. The minimum investment amount is Rs 5,000. The fund manager is Mr Anoop Bhaskar.
Shanthi Venkataraman
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