What the Top-10 mutual funds bought and sold in May 2021

This month, we look at what the 10 biggest AMCs by total AUM bought and sold in the month of May 2021.

Jun 15, 2021 07:06 IST India Infoline News Service

When it comes to mutual fund buying, the focus is normally on top-3 funds. But a number of funds beyond the top-3 have been growing rapidly in last few quarters. This month, we look at what the 10 biggest AMCs by total AUM bought and sold in the month of May 2021. The overall AUM cut-off has been set at Rs100,000cr.

How the overall AUM picture looks

We have ranked funds from left to right on total AUM but the real area of focus is the blue shaded area which shows equity AUM. For example, AMCs like SBI MF, Nippon India MF, UTI MF, Axis MF and DSP MF have equity AUMs bigger than their non-equity AUMs.

Data Source: AMFI India

Let us understand why these 10 MF give a much better picture of the mutual fund buying and selling. If you consider the total AUM of these 10 funds, it adds up to 84% of the total overall AUM of the all the 40 AMCs operating in India. Let us turn to what these 10 AMCs bought and sold in the month of May 2021.

1. SBI Mutual Fund

Data as on Equity AUM (Rs cr) Total AUM (Rs cr) Equity AUM Share
31 May 283,891 533,173 53.25%

For May 2021, SBI Mutual Fund bought 3.1 lakh shares of Credit Access Grameen and another 3 lakh shares of Oil India. During the month, SBI MF also exited stocks like Agro Tech Foods, Tata Chemicals and Garden Reach Shipbuilders. The focus was clearly on churning the portfolio in terms of future winners with valuation comfort on the table.

2. ICICI Prudential Mutual Fund

Data as on Equity AUM (Rs cr) Total AUM (Rs cr) Equity AUM Share
31 May 172,264 428,086 40.24%

For May 2021, ICICI Prudential Mutual Fund bought over 26,000 shares of Voltamp Transformers. During the month of May 2021, ICICI Prudential MF also exited stocks like Easy Trip IPO, Astra Microwave, Indian Metals and Texmaco Rail. The focus was booking profits in the IPO stories like Easy Trip while buying into capital cycle revival.

3. HDFC Mutual Fund

Data as on Equity AUM (Rs cr) Total AUM (Rs cr) Equity AUM Share
31 May 167,272 420,749 39.76%

For May 2021, HDFC Mutual Fund bought over 9.25 lakh shares of VIP Industries and 5.13 lakh shares of Ashok Leyland. HDFC MF also added Info-Edge, L&T Infotech and IGL. However, it heavily sold into Can Fin Homes, Bata, SRF and Ramco Cements. The focus was on tapping the mid-cap IT stocks and also benefit from revenge buying post-lockdown.

4. Nippon India Mutual Fund

Data as on Equity AUM (Rs cr) Total AUM (Rs cr) Equity AUM Share
31 May 125,093 242,898 51.50%

For May 2021, Nippon India Mutual Fund bought over 4.5 lakh shares of Kirloskar Engines. However, Nippon India MF sold Sanghvi Moves, Craftsman Automation, Zuari Global and Rico Auto. Nippon, with a strong mid-cap and small cap franchise, has been looking to take profits off stocks on value criteria and also where IPOs have rallied sharply.

5. UTI Mutual Fund

Data as on Equity AUM (Rs cr) Total AUM (Rs cr) Equity AUM Share
31 May 112,644 187,414 60.10%

For May 2021, UTI Mutual Fund bought over 7.35 lakh shares of Avanti Feeds and 1.96 lakh shares of L&T Finance Holdings. UTI exited stocks like Tata Motors DVR, Bata, IRCTC, Manappuram Finance and Ujjivan SFB. At higher levels of the market, UTI appears to be making a clear bet in favour of reasonably priced mid-cap stocks where the pandemic has created value stories.

6. Axis Mutual Fund

Data as on Equity AUM (Rs cr) Total AUM (Rs cr) Equity AUM Share
31 May 112,612 211,409 53.27%

For May 2021, Axis Mutual Fund bought into stocks like Atul, Laurus Labs, Jamna Auto, Fortis Health and Natco Pharma. At the same time, Axis MF was a seller in Happiest Minds, Apollo Tyres, Castrol, STFL, Craftsman Automation and Rallis. There appears to be a clear pharma and healthcare bias in the purchase decisions of Axis MF for May 2021.

7. Kotak Mutual Fund

Data as on Equity AUM (Rs cr) Total AUM (Rs cr) Equity AUM Share
31 May 99,530 246,980 40.30%

For May 2021, Kotak Mutual Fund was a buyer in Aarti Industries and Godrej Properties but a seller in CRISIL. While the bet on Aarti Industries appears to be the typical long-specialty-chemicals story, the addition of Godrej Properties is a tad surprising considering the pressure the stock saw even in the recent quarter.
8. Aditya Birla Sun Life Mutual Fund

Data as on Equity AUM (Rs cr) Total AUM (Rs cr) Equity AUM Share
31 May 97,349 274,906 35.41%

For May 2021, Aditya Birla Mutual Fund bought 9 lakh shares of Solara Active Pharma, over 53 lakh shares of Magma Fincorp and 5 lakh shares of Capacite Infraprojects. The fund also sold out on IPO Indigo Paints and Nitin Spinners.

9. DSP Mutual Fund

Data as on Equity AUM (Rs cr) Total AUM (Rs cr) Equity AUM Share
31 May 56,739 102,838 55.17%

For May 2021, DSP Mutual Fund bought large chunks of LIC Housing, Butterfly Gandhimathi and Bharat Dynamics. It also bought smaller stakes in Kovai Medical, Coforge and M&M Finance. Interestingly, DSP Mutual Fund was a seller in Navin Fluorine and Laxmi Organic; both of which belong to the specialty chemicals space.

10. IDFC Mutual Fund

Data as on Equity AUM (Rs cr) Total AUM (Rs cr) Equity AUM Share
31 May 25,468 126,926 20.07%

For May 2021, IDFC Mutual Fund bought large chunks of L&T Finance Holdings, JK Lakshmi Cements, Dr. Lal Pathlabs and Trent. At the same time, IDFC MF has been a seller in Orient Electric, HDFC AMC and Laxmi Organic Industries.

As we write there are other AMC houses like Mirae and Edelweiss growing their AUMs at a rapid pace. That could be the story of coming months.

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