Within the mutual fund portfolio, the weight of capital goods improved to 7.9% while BFSI experienced a significant reduction, a report by Motilal Oswal said.
Apart from this, MFs’ stake in technology remained stable, healthcare saw an increase to 7.4%, and utilities to 4.5%.
The mutual fund industry’s total asset under management (AUM) jumped 35% YoY to Rs 53.4 lakh crore in FY24, propelled by growth in equity funds, other Exchange Traded Funds (ETFs), balanced funds, arbitrage funds, and liquid funds.
Investors continued to park their money in mutual funds, with inflows and contributions in systematic investment plans (SIPs) reaching a new high of Rs 192.7 lakh crore in March (up 0.4% MoM and 35% YoY), the report added.
.Following is a summary of equity AUM activity in top 5 MF houses in March 2024:
SBI Mutual Fund
India’s largest AMC SBI Mutual Fund, which owned equity assets worth over Rs 6.45 lakh crore at the end of March, added 61.30 lakh shares of Kotak Mahindra Bank, 56.85 lakh shares of TCS, 47.61 lakh shares of ITC, 30.45 lakh shares of Reliance and 28.33 lakh shares of HDFC bank in its portfolio. In the same period, 63.51 lakh shares of ICICI Bank and 48.55 lakh shares of Bharti Airtel were sold off.
ICICI Prudential Mutual Fund
The second-largest asset management company, which handles Rs 4 lakh crore as of March 2024, added 13.85 crore shares of ITC, 1.28 crore shares of Star Health, 98.25 lakh and 80.11 lakh shares of HDFC Life and HDFC Bank, respectively. Simultaneously, it offloaded 4.37 lakh shares of L&T, 3.21 lakh shares of Maruti Suzuki and 2.46 lakh shares of Avenue Supermarts.
HDFC AMC
HDFC Mutual Fund, a subsidiary of HDFC Bank, currently manages assets worth Rs 3.55 lakh crore. The major additions in their portfolio in the month of March were HDFC Bank, Metropolis Healthcare and Kotak Mahindra Bank with 22 lakh, 20.36 lakh and 10.66 lakh share purchases, respectively. They reduced their holding in ICICI Bank (8.63 lakh shares) and Hindustan Aeronautics Ltd (5.59 lakh shares) in the same period.
Nippon India Mutual Fund
Nippon India MF is one of the largest asset management companies in India with a total AUM of Rs 2.89 lakh crore. In the month of March, it purchased 2.71 crore shares of NLC India Ltd, 2.56 crore shares of NTPC, 1.08 crore shares of ITC, 1.05 crore shares of Aster DM Healthcare, 86.5 lakh shares in Aditya Birla Sun Life Asset Management and 63.87 lakh shares of HDFC Bank. It did not reduce its holding in any of the equities.
Kotak Mutual Fund
As of March 2024, Kotak Mutual Fund managed assets worth Rs 2.19 lakh crore. It added 88 lakh shares of ITC, 54.2 lakh shares of Ambuja cements, 33 lakh shares of HDFC Bank as well as nearly 26 lakh shares of Adani Ports and HUL, while only offloading 2.81 lakh shares of Thermax Limited and 1.84 lakh shares of Maruti Suzuki.
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