Before I start off on any analysis in this segment, even at the cost of a repetitive bore I will put forth this disclaimer. All fund schemes are taken as direct. However, even if you are a direct investor, hire a financial advisor that you trust who can guide with investments. Pay for your advice.
Fund category definition: Funds with minimum 80% portfolio allocation to Large Cap (top 100 by market cap size) stocks
Benchmark: BSE 100 TRI or Nifty 100 TRI with latter changing by 3.74% in November 2022 and a 1-year change of 10.99%
Data as on: 30th November, 2022
This has been one of the few months with no change in AUM rankings.
In terms of expense ratio, Aditya Birla has reduced it by 6 basis points (now at 1.13%) while Canata Robeco has a marginal increase of 3 basis points to still remain at a very fair 0.42%.
SBI has trimmed it’s portfolio by four holdings (now at 49) while Nippon has added three to it’s fold (for a portfolio of 59).
This month’s report card is quite shoddy with only HDFC beating the benchmark. In the one year return though, it is joined by ICICI and Nippon in the green.
Market Cap Allocation
Most funds have increased their market cap allocation a bit.
SBI has removed it’s miniscule 0.22% allocation in Small Cap.
Only in Aditya Birla, there is a visible 2.14% increase in the Large Cap allocation. Rest are within the 2% mark.
Top 5 Sectors
It’s a zero action month. No substantial sectoral movement in the Large Cap funds under the scanner.
Top 10 Stocks & Movements
Axis has beefed up its’ allocation in Reliance Industries by 0.78% (to go up to 4.49%).
SBI has increased it’s allocation in HDFC Bank by 0.81% (now up to 8.70%). As noticed, the fund has shrunken it’s tail a bit with three exits – Aurobindo Pharma (0.23%), Shriram City Union Finance (0.22%) and TCS (0.18%).
HDFC has exited it’s 0.46% position in ICICI Prudential Life Insurance.
Aditya Birla has four new additions into it’s fold – FSN E-Commerce (0.52%), L&T Infotech (0.29%), Shriram Transport Finance (0.27%), and ICICI Prudential Life Insurance (0.21%). Three stocks have been exited out of as well – Shriram City Union Finance (0.44%), Bajaj Auto (0.05%) and Motherson Sumi Systems (0.02%).
Nippon has cut down it’s allocation to Indian Hotels by 0.77% (taking it down to 3.36%). It’s a month of multiple new entrants and some re-entrants, five to be precise – Maxi Financial Services (0.55%), ICICI Lombard General Insurance (0.44%), BPCL (0.26%), Interglobe Aviation (0.19%) and NHPC (0.17%). The fund has meanwhile exited two stocks – DLF (0.62%) and Ashok Leyland (0.49%).
Apart from the MindTree and L&T Infotech switch, UTI has added a 0.33% allocation to United Breweries.
Franklin has three new additions to it’s portfolio – Tata Steel (0.79%), Hindalco (0.73%) and PB Fintech (0.60%).