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 1.94% in November 2022 and a 1-year return of 8.74%.
All data as on: 30th November, 2022
Summary
With the merger of L&T and HSBC mutual funds, HSBC India Mid Cap fund come back in at ninth spot pushing UTI out.
Sundaram has hitched up it’s expense ratio by almost 15%, bringing it up to a pricey 1.03%.
Nippon has increased it’s portfolio size by 3 whereas SBI has reduced it’s portfolio by 3.
This month, in this category too the greens are a rare sight with only three funds (HDFC, Nippon and Mirae) making the cut. In the one-year performance, Kotak and Sundaram add on to make it a 50-50 bet for green and red split.
Market Cap Allocation
I limit myself to mentioning market cap allocation changes above 2%, which yet again finds no takers this month.
Axis is the only fund that remains below the 90% equity exposure mark.
Top 5 Sectors
It’s been a very quiet month on the sector allocation front.
Franklin sees an organic swap between Consumer Durables and Cement with the latter inching it’s way to the Top 5 Sectors.
In Sundaram, although there is 0.95% increased allocation to Shriram Transport Finance, Financial as a sector sees a drop with LIC Housing Finance getting a 1.08% slash (down to a barely-there 0.13%) and a complete exit from Shriram City Union Finance (0.69%). Instead, Consumer Non-Durables fills in the vacuum with a place in the Top 5 Sectors.
Top 10 Stocks & Movement
HDFC has trimmed it’s allocation in Indian Hotels by 0.77% (now at 4.62%).
Kotak has only the Shriram Transport and Shriram City Union Finance swap worth mentioning.
Apart from the MindTree and L&T Infotech switch, Axis has three new additions – Mahindra & Mahindra Financial Services (0.48%), Fine Organic (0.14%) and Global Health (0.04%). It has exited two stocks – Oberoi Realty (0.30%) and Mahindra CIE Automotive (0.03%).
DSP has exited it’s 1.14% position in SBI Life Insurance.
Nippon has massively increased it’s allocation in Zomato by 0.88%, taking it up to 1.15%. The fund has five new additions – RBL Bank (0.51%), UltraTech Cement (0.43%), MphasiS (0.13%), HPCL (0.07%) and Cummins (0.04%). There are two exits this month – Tata Motors (0.55%) and Bandhan Bank (0.47%).
The MindTree and L&T Infotech switch is in action in Mirae. Beyond that, the fund has two new additions – Biocon (0.73%) and Balkrishna Industries (0.57%). There are also two chunky exits – MRF (1.12%) and Motherson Sumi Wiring (1.02%).
SBI has increased it’s position substantially in two stocks – Sundaram Finance by 0.87% (now at 1.62%) and K.P.R. Mills by 0.81% (now at 1.22%). The fund has made three exits – Shriram City Union Finance (0.65%), Crompton Greaves Consumer Electricals (0.54%) and NCC (0.31%).
Franklin has substantially increased it’s allocation in PB Fintech by 0.76% (now at 1.17%). The fund has added a new 0.51% position in Tata Steel.
Apart from the changes mentioned above – Sundaram has beefed up it’s position in SBI by 0.91% taking it up to 1.36%. There are also the usual shifts between MindTree and L&T Infotech as well as Shriram Transport Finance and Shriram City Union Finance. The fund has a new 1.07% position in Cadila Healthcare.
Check out the other categories and what the funds there were up to:
Large Cap Funds – November 2022
Flexi Cap Funds – November 2022
Multi Cap Funds – November 2022
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