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 65% portfolio allocation to Mid Cap (101-250 by market cap size) stocks
Benchmark: Nifty Mid Cap 150 TRI with a change of -6.72% in February 2022 and a 1-year return of 21.71%.
All data as on: 28th February, 2022
Well well well. This is one of the two categories where all ten funds have done better and fallen lesser than the benchmark. Now, that’s a pleasant surprise.
As for the expense ratio, Mirae sees yet another increase, this time by 0.06% to make it a 0.10% hike over the last two months. On the other hand, Kotak has come down by 0.06% while Franklin sees a cut of 0.03%.
Franklin’s gone for a bit of shopping with 4 extra stocks while Sundaram sees another month of rationalisation with four stocks lesser to carry.
Market Cap Allocation
Not much of a change in this aspect to write home about. Slight reduction in Small Cap and simultaneous increase in Mid Cap for HDFC and DSP.
Top 5 sectors
Within sectors, the most discernible shift is in Franklin. Consumer Non Durables as a sector sees a cut of 1.28%. This is led, in a major part, by a 1.08% cut in Tata Consumer Products.
Top 10 stocks & Movement
Two significant movements in HDFC – increase of 0.85% in Cholamandlam Investment and Finance while there is a 0.78% reduction in Balkrishna Industries.
This is another category where Kotak has taken an allocation to the newly listed Vedant Fashion (0.75%), maker of Manyavar brand.
Nippon has increased it’s position in Axis Bank by 0.84% while completely exiting from it’s 0.73% position in L&T.
The Franklin fund manager has probably been the most active last month with quite a few noticeable moves – 1.31% reduction in HDFC Bank and 1.08% reduction in Tata Consumer Product. This has been redeployed in new positions – Max Healthcare (1.02%), Bharat Forge (1.02%) and Infosys (1.01%).
Sundaram has reduced it’s allocation to MRF by a big 1.02% bringing it down to a tiny 0.39%. It has also completely exited it’s 0.76% position in Aavas Financiers.
SBI has made one major move of increasing it’s allocation to P&G healthcare by 1.02%.
Check out the other categories and what the funds there were up to: