Edelweiss Fund Insight: December 2021 By Edelweiss Alternative Research
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Did you know? Equity MFs snapped up fresh issuances to the tune of INR 40.5bn
* Mutual Funds deployed INR 40.5bn in Fresh issuances and the additions were PB Fintech (INR 13.5 bn), Paytm (INR 9.8bn), Go Fashion (INR 6.6bn), Latent View (INR 5.7bn), SJS Ent (2bn), Tarsons Products (INR 1.8bn) and Sapphire Foods (INR 1.1bn). Major additions from existing holdings were Axis Bank, ICICI Bank, HDFC Bank, HCL Technologies & Infosys. Funds also added, Mahindra & Mahindra, Zee Ent and IndusInd Bank. Major reductions were Vedanta (promoters acquired sizeable stake via creeping acquisition) , Zomato and Apollo Hospitals.
* Midcap: Key additions- Zee Ent (INR 7.7bn), IPCA Labs (INR 5.5bn), Indiabulls Housing(INR 5bn) and APL Apollo (INR 3.5bn). Key reductions were Indian Energy Exchange (INR 2.5bn), Aarti Ind (INR 1.8bn), Escorts (INR 1.7bn) and Tata Chemicals (INR 1.6bn).
* Smallcap: Key additions- Zensar Tech (INR 3.5bn), Kalpataru Power (INR 0.8bn), Granuels (INR 0.8bn) and Thangamayil Jew (INR 0.7bn). Key reductions were (INR 1bn), eClerx (INR 0.65bn), Elgi Equipment (INR 0.5bn) and Sobha (INR 0.5bn). The Midcap segment is between INR 10k cr to INR 40k cr marketcap and Smallcap segment is below 10k cr marketcap.
MF House wise Activity
* Aditya Birla SL MFs major additions were PAYTM (One97)(INR4.69bn), PB Fintech(INR1.52bn) and Hindustan Aero(INR1.2bn). It's major reductions were H D F C(INR3.37bn), Vedanta(INR1.96bn) and Kotak Mah Bank(INR1.51bn). PAYTM (One97) and PB Fintech were new entrants while Chemplast Sanmar was a complete exit.
* Axis MFs prominent additions were Bajaj Finserv(INR2.98bn), Go Fashion(INR2.95bn) and ICICI Bank(INR2.73bn). It reduced HDFC Bank(INR7.53bn), Supreme Inds(INR2.41bn) and Maruti Suzuki(INR1.4bn). New entrants included Go Fashion and PB Fintech while Nuvoco Vistas was a complete exit.
* DSP MFs large additions were Mahindra & Mahindra(INR1.79bn), Axis Bank(INR1.36bn) and Supreme Inds(INR1.3bn). It's major reduce included Tata Steel(INR2.36bn), Voltas(INR2bn) and Kotak Mah Bank(INR1.9bn). PB Fintech and Thangamayil Jew were new entrants while complete exit included CG Power and Ind.
* Franklin Templeton MFs major additions were HCL Technologies(INR2.68bn), HDFC Bank(INR2.23bn) and SBI Cards & Payment (INR2.21bn). The fund reduced exposure in St Bk of India(INR3.92bn), NTPC(INR3.16bn) and I O C L(INR1.97bn). The list of new entries included Cummins India and Indraprastha Gas while AIA Engg was a complete exit.
* HDFC MFs large additions were Hindustan Aero(INR1.38bn), PAYTM (One97)(INR1.27bn) and Zee Entertainmen(INR1.15bn). It's prominent reductions were Tata Motors(INR3.36bn), Vedanta(INR2.85bn) and St Bk of India(INR2.09bn). PAYTM (One97) and PB Fintech were new entrants while Indian Energy Ex was a complete exit.
* ICICI Pru MFs major additions were Mahindra & Mahindra(INR4.28bn), St Bk of India(INR4.15bn) and Reliance Inds(INR3.92bn). The fund reduced Bharti Airtel(INR5.99bn), Vedanta(INR5.28bn) and Larsen & Toubro(INR2.67bn). PB Fintech and Latent View were new entrants while Zomato was a complete exit.
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