What Big 10 fund houses bought & sold in March 2024

22 Apr 2024 , 09:44 AM

MARCH 2024 – ROBUST FOR EQUITY FUNDS, RECORD FOR SIPS

March 2024 may have been a tough month for the debt funds with outflows of close to $1.98 Trillion. However, equity fund flows continued to be positive, albeit lower than February 2024. Net inflows into equity funds stood at ₹22,633 Crore in March 2024, compared to ₹26,703 Crore in February 2024. While small cap funds lagged in the month of March 2024 in terms of net inflows, other categories of equity funds like sectoral funds, flexi cap funds, multi cap funds, large cap funds, mid-cap funds and ELSS funds saw steady flows in March 2024. Not surprisingly, domestic mutual funds were net buyers in equities to the tune of ₹44,233 Crore in March 2024. That is 33% higher than the net equity buying by FPIs in March, so domestic funds are making up for the FPI shortfall in equity flows.

If flows into equity funds have been robust and MFs have been consistent buyers in equities, the real question is what have mutual funds been buying. One thing we need to understand is that MF churn is not just determined by net equity fund inflows of ₹22,633 Crore. Institute the participation in stock markets is determined by the gross churn, which is the sum of purchases and redemptions. That stood at ₹52,721 Crore of purchases and ₹30,088 Crore of redemptions. It is this gross figure that determines churn by mutual funds. In India there are 45 AMCs; so, we cannot look at the buying and selling of all these AMCs. Hence we will look at the 10 most powerful funds in terms of equity market AUM.

SBI MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MARCH 2024

As of the close of March 31, 2024, SBI Mutual Funds has total equity AUM of ₹6,50,426 Crore, making it the largest fund by AUM by a margin. Over the last 1 month the equity fund AUM has grown by 2.7% while the yoy growth in equity fund AUM stands at an impressive 42.1%. SBI MF holds a total of 575 stocks across all its equity schemes. Here are some of the portfolio highlights of SBI mutual funds for March 2024.

• Its major stock additions in March 2024 included Savita Oil Technologies (24.30 Lakh shares), Shakti Pumps (8.27 Lakhs shares), Inox Wind (0.60 Lakh shares), Ramakrishna Forgings (0.42 Lakh shares), and Tamilnad Mercantile Bank (0.47 Lakh shares).
• The fund’s major exits in March 2024 included Brightcom (-6.64 Lakh shares), Infibeam Avenues (-5.80 Lakh shares), Jamna Auto (-0.79 Lakh shares), Rain Industries (-079 Lakh shares, and Orient Electric (-0.46 Lakh shares)
• The top 5 equity holdings of SBI Mutual fund included HDFC Bank, Reliance Industries, ICICI Bank, Infosys, and Larsen & Toubro. Its maximum sectoral exposure was to BFSI, IT Services, Oil & Gas, automobiles, and FMCG.

For March 2024, SBI Mutual Fund bought a total of 27 stocks and sold 20 stocks.

ICICI PRUDENTIAL MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MARCH 2024

As of the close of March 31, 2024, ICICI Prudential Mutual Fund has total equity AUM of ₹4,06,538 Crore, making it the second largest fund by AUM. Over the last 1 month the equity fund AUM has grown by 4.8% while the yoy growth in equity fund AUM stands at an impressive 61.0%. ICICI Prudential Mutual Fund holds a total of 640 stocks across all its equity schemes. Here are portfolio highlights of ICICI Prudential Mutual Fund in March.

• Its major stock additions in March 2024 included Wockhardt (19.34 Lakh shares), Aarti Pharmalabs (5.99 Lakhs shares), Hikal Ltd (4.19 Lakh shares), Max Estates (1.58 Lakh shares), and Thirumalai Chemicals (1.05 Lakh shares).
• The fund’s major exits in March 2024 included Brightcom (-2.85 Lakh shares), Go Fashions (-0.04 Lakh shares), Sharda Cropchem (-0.04 Lakh shares), Polyplex (-0.03 Lakh shares, IREDA (-0.02 Lakh shares).
• The top 5 equity holdings of ICICI Prudential Mutual Fund included ICICI Bank, HDFC Bank, Reliance Industries, Infosys, and Larsen & Toubro. Its maximum sectoral exposure was to BFSI, automobiles, IT Services, Oil & Gas, and Pharmaceuticals.

For March 2024, ICICI Prudential Mutual Fund bought a total of 20 stocks and sold 7 stocks.

HDFC MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MARCH 2024

As of the close of March 31, 2024, HDFC Mutual Fund has total equity AUM of ₹3,54,547 Crore, making it the third largest fund by AUM. Over the last 1 month the equity fund AUM has grown by 1.3% while the yoy growth in equity fund AUM stands at an impressive 61.7%. HDFC Mutual Fund holds a total of 663 stocks across all its equity schemes. Here are portfolio highlights of HDFC Mutual Fund in March.

• Its major stock additions in March 2024 included Popular Vehicles & Services (51.53 Lakh shares), Wockhardt (2.32 Lakhs shares), J&K Bank (0.98 Lakh shares), Himadri Specialty Chemicals (0.54 Lakh shares), and HBL Power Systems (0.30 Lakh shares).
• The fund’s major exits in March 2024 included Brightcom (-3.44 Lakh shares), Polyplex Corp (-0.03 Lakh shares), Epigral (-0.03 Lakh shares), and Lux Industries (-0.02 Lakh shares).
• The top 5 equity holdings of HDFC Mutual Fund included HDFC Bank, ICICI Bank, SBI, Axis Bank and Reliance Industries. Its maximum sectoral exposure was to BFSI, Pharmaceuticals, IT Services, automobiles, and oil & gas.

For March 2024, HDFC Mutual Fund bought a total of 18 stocks and sold 4 stocks.

NIPPON INDIA MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MARCH 2024

As of the close of March 31, 2024, Nippon India Mutual Fund has total equity AUM of ₹2,90,061 Crore, making it the fourth largest fund by equity AUM. Over the last 1 month the equity fund AUM has grown by 2.7% while the yoy growth in equity fund AUM stands at an impressive 76.0%. Nippon India Mutual Fund holds a total of 663 stocks across all its equity schemes. Here are portfolio highlights of Nippon India Mutual Fund in March.

• Its major stock additions in March 2024 included RK Swamy (21.15 Lakh shares), J&K Bank (2.82 Lakhs shares), Himadri Specialty Chemicals (1.56 Lakh shares), Lloyds Metals & Energy (1.01 Lakh shares), and Tamilnad Mercantile Bank (0.85 Lakh shares).
• The fund’s major exits in March 2024 included Brightcom (-13.18 Lakh shares), Infibeam Avenues (-11.50 Lakh shares), Jamna Auto (-1.56 Lakh shares), Rain Industries (-1.55 Lakh shares), and Delta Corp (-1.41 Lakh shares).
• The top 5 equity holdings of Nippon India Mutual Fund included HDFC Bank, NTPC, ICICI Bank, Reliance Industries, and Coal India. Its maximum sectoral exposure was to BFSI, Pharmaceuticals, power, capital goods, and oil & gas.

For March 2024, Nippon India Mutual Fund bought a total of 25 stocks and sold 19 stocks.

KOTAK MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MARCH 2024

As of the close of March 31, 2024, Kotak Mutual Fund has total equity AUM of ₹2,19,263 Crore, making it the fifth largest fund by equity AUM. Over the last 1 month the equity fund AUM has grown by 3.2% while the yoy growth in equity fund AUM stands at an impressive 59.1%. Kotak Mutual Fund holds a total of 376 stocks across all its equity schemes. Here are portfolio highlights of Kotak Mutual Fund in March 2024.

• Its major stock additions in March 2024 included Vijaya Diagnostics (15.32 Lakh shares), Yes Bank (4.34 Lakhs shares), Zensar Technologies (0.88 Lakh shares), Adani Power (0.79 Lakh shares), and Karur Vysya Bank (0.73 Lakh shares).
• The fund’s major exits in March 2024 included Godrej Agrovet (-12.56 Lakh shares), IRB Infra (-1.61 Lakh shares), Renuka Sugars (-0.88 Lakh shares), Redington Ltd (-0.66 Lakh shares), and IDBI Bank (-0.60 Lakh shares).
• The top 5 equity holdings of Kotak Mutual Fund included HDFC Bank, ICICI Bank, Reliance Industries, Larsen & Toubro, and Maruti Suzuki. Its maximum sectoral exposure was to BFSI, automobiles, oil & gas, IT services, and pharmaceuticals.

For March 2024, Kotak Mutual Fund bought a total of 17 stocks and sold 16 stocks.

UTI MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MARCH 2024

As of the close of March 31, 2024, UTI Mutual Fund has total equity AUM of ₹2,17,557 Crore, making it the sixth largest fund by equity AUM. Over the last 1 month the equity fund AUM has grown by 2.5% while the yoy growth in equity fund AUM stands at an impressive 36.3%. UTI Mutual Fund holds a total of 434 stocks across all its equity schemes. Here are portfolio highlights of UTI Mutual Fund in March.

• Its major stock additions in March 2024 included Jio Financials (28.47 Lakh shares), Sonata Software (7.87 Lakhs shares), Aster DM Healthcare (3.10 Lakh shares), Hanuman Tea Company (1.69 Lakh shares), and Bikaji Foods International (1.25 Lakh shares).
• The fund’s major exits in March 2024 included Jamna Auto (-28.17 Lakh shares), GHCL Textiles (-12.77 Lakh shares), Asahi India Glass (-6.02 Lakh shares), VIP Industries (-3.40 Lakh shares), and Paam Pharma (-0.50 Lakh shares).
• The top 5 equity holdings of UTI Mutual Fund included HDFC Bank, ICICI Bank, Reliance Industries, Infosys, and Larsen & Toubro. Its maximum sectoral exposure was to BFSI, IT Services, automobiles, oil & gas, and pharmaceuticals.

For March 2024, UTI Mutual Fund bought a total of 13 stocks and sold 8 stocks.

AXIS MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MARCH 2024

As of the close of March 31, 2024, Axis Mutual Fund has total equity AUM of ₹1,71,346 Crore, making it the seventh largest fund by equity AUM. Over the last 1 month the equity fund AUM has grown by 1.5% while the yoy growth in equity fund AUM stands at an impressive 31.2%. Axis Mutual Fund holds a total of 351 stocks across all its equity schemes. Here are portfolio highlights of Axis Mutual Fund in March 2024.

• Its major stock additions in March 2024 included Yes Bank (34.22 Lakh shares), Chalet Hotels (6.48 Lakhs shares), BHEL (4.66 Lakh shares), NCC Ltd (2.27 Lakh shares), and Castrol Ltd (2.24 Lakh shares).
• The fund’s major exits in March 2024 included IRB Infra (-7.50 Lakh shares), Indian Overseas Bank (-3.92 Lakh shares), Redington Ltd (-3.07 Lakh shares), IDBI Bank (-2.78 Lakh shares), and Welspun Living (-1.41 Lakh shares).
• The top 5 equity holdings of Axis Mutual Fund included ICICI Bank, Bajaj Finance, HDFC Bank, Avenue Supermarts, and TCS Ltd. Its maximum sectoral exposure was to BFSI, automobiles, pharmaceuticals, IT Services, and Retail.

For March 2024, Axis Mutual Fund bought a total of 21 stocks and sold 20 stocks.

ABSL MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MARCH 2024

As of the close of March 31, 2024, ABSL Mutual Fund has total equity AUM of ₹1,48,220 Crore, making it the eighth largest fund by equity AUM. Over the last 1 month the equity fund AUM has been flat while the yoy growth in equity fund AUM stands at an impressive 35.2%. ABSL Mutual Fund holds a total of 452 stocks across all its equity schemes. Here are portfolio highlights of ABSL Mutual Fund in March 2024.

• Its major stock additions in March 2024 included Equitas Small Finance Bank (2.85 Lakh shares), Karur Vysya Bank (1.96 Lakhs shares), GR Infra (1.23 Lakh shares), Five Star Business (0.29 Lakh shares), and GE Shipping (0.25 Lakh shares).
• The fund’s major exits in March 2024 included IRB Infra (-4.43 Lakh shares), SIS Ltd (-4.16 Lakh shares), Gujarat Pipavav Port (-3.00 Lakh shares), Rainbow Hospital (-2.57 Lakh shares), and Indian Overseas Bank (-2.37 Lakh shares).
• The top 5 equity holdings of UTI Mutual Fund included HDFC Bank, ICICI Bank, Infosys, Reliance Industries, and Larsen & Toubro. Its maximum sectoral exposure was to BFSI, IT Services, automobiles, pharmaceuticals, and oil & gas.

For March 2024, ABSL Mutual Fund bought a total of 16 stocks and sold 17 stocks.

MIRAE MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MARCH 2024

As of the close of March 31, 2024, Mirae Mutual Fund has total equity AUM of ₹1,42,287 Crore, making it the ninth largest fund by equity AUM. Over the last 1 month the equity fund AUM has grown by 0.4% while the yoy growth in equity fund AUM stands at an impressive 37.7%. Mirae Mutual Fund holds a total of 416 stocks across all its equity schemes. Here are portfolio highlights of Mirae Mutual Fund in March 2024.

• Its major stock additions in March 2024 included Suzlon Energy (29.62 Lakh shares), Wockhardt Ltd (8.70 Lakhs shares), Karnataka Bank (8.52 Lakh shares), SJVN Ltd (1.66 Lakh shares), and IDBI Bank (1.26 Lakh shares).
• The fund’s major exits in March 2024 included Trident Ltd (-3.38 Lakh shares), Rajesh Exports (-0.32 Lakh shares), Relaxo Footwear (-0.20 Lakh shares), Pfizer Ltd (-0.04 Lakh shares), and Blue Dart Express (-0.02 Lakh shares).
• The top 5 equity holdings of Mirae Mutual Fund included HDFC Bank, ICICI Bank, Reliance Industries, SBI and Axis Bank. Its maximum sectoral exposure was to BFSI, IT Services, pharmaceuticals, automobiles, and oil & gas.

For March 2024, Mirae Mutual Fund bought a total of 9 stocks and sold 5 stocks.

DSP MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MARCH 2024

As of March 31, 2024, DSP Mutual Fund has total equity AUM of ₹90,663 Crore, making it the tenth largest. Over last 1 month the equity fund AUM contracted by -1.5% while the yoy growth in equity fund AUM stood at 39.9%. DSP Mutual Fund holds a total of 386 stocks across all equity schemes. Here are portfolio highlights of DSP Mutual Fund in March 2024.

• Its major stock additions in March 2024 included SAIL (18.88 Lakh shares), Gopal Snacks (4.99 Lakhs shares), Jio Financial (2.46 Lakh shares), IRFC Ltd (1.39 Lakh shares), and Adani Power (0.70 Lakh shares).
• The fund’s major exits in March 2024 included Finolex Industries (-9.19 Lakh shares), Muthoot Finance (-0.27 Lakh shares), and Adani WIlmar (-0.16 Lakh shares).
• The top 5 equity holdings of DSP Mutual Fund included HDFC Bank, ICICI Bank, Bajaj Finance, IPCA Laboratories and Axis Bank. Its maximum sectoral exposure was to BFSI, pharmaceuticals, automobiles, IT Services and Chemicals.

For March 2024, DSP Mutual Fund bought a total of 6 stocks and sold 5 stocks.