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Shanthi Venkataraman

THE stocks of Cadila Healthcare, Canara Bank and VSNL were added to the portfolio of DSP Merrill Lynch TIGER Fund in August.

Since the fund's launch in June, it has generated a return of about 13 per cent, although it is yet to outperform its benchmark the BSE 100, which turned in a return of 16 per cent.

The preferred sectors in the portfolio continue to be banking and media. They account for about 27 per cent of the total assets. The fund has, however, pared exposures to the stock of Karur Vysya Bank. Exposures to other stocks such as Reliance Industries and Tata Motors were also reduced.

The fund also exited the stock of Tata Power in August. Exposures to the stock of CESC were at the same time ramped up substantially. Holdings in the stock have more than doubled. The fund has also raised its stake in Hinduja TMT, Grasim, IBP and Siemens. Holdings in several stocks remained relatively unchanged; Zee Telefilms, TV Today, SBI, Novartis, GAIL and ACC were the prominent ones.

Top ten holdings: SBI, Grasim, Zee Telefilms, ACC, ONGC, Reliance, L&T, Bharti Tele-Ventures, Tata Motors and BPCL.

Fund facts: The Infrastructure Growth and Economic Reform Fund (TIGER) were launched in June 2004, with an objective of investing in stocks of companies that would benefit from liberalisation reforms and infrastructure investments. The fund has an asset base of Rs 158 crore. The fund offers dividend and growth options. The minimum investment amount is Rs 1,000. The entry load is 2 per cent for investment of less than Rs 5 crore. There is no exit load.

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