What Big 10 fund houses bought and sold in June 2024?

18 Jul 2024 , 10:45 AM

JUNE 2024 –RECORD FOR EQUITY FLOWS AND SIPS TOO

Between February and April 2024, equity funds had struggled with dwindling flows amidst election related uncertainty. However, the situation changed with effect from May 2024. In May 2024, we had seen a sharp turnaround in equity fund flows at ₹34,697 Crore. In the 3 months prior to May 2024, the equity fund flows had been ₹18,917 Crore in April, ₹22,633 Crore in March, and ₹26,703 Crore in February 2024. If May was the trailer, then June 2024 was the real thriller with ₹40,608 Crore of net inflows. The June 2024 equity fund flows also happens to be an all-time record for any month, better the previous record of May 2024. Within the equity fund category, bulk of the buying came into sectoral / thematic funds, where were largely driven by NFOs. For the month of June 2024; while NFO flows were robust at ₹15,227 Crore, the gross SIP flows set a lifetime record of ₹21,262 Crore in the month of June 2024. That is driving most of the equity fund flow action.

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. Let us look at the numbers first. For June 2024, mutual funds invested ₹28,226 Crore into equities, coming on top of ₹48,099 Crore in May 2024. This robust investing by the mutual funds were largely driven by the steady mutual fund flows. One thing to understand is that MF churn is not determined only by the net equity fund inflows of ₹40,608 Crore. Instead, the participation in stock markets is determined by the gross churn, which is the sum of purchases and redemptions. The gross flows into equity funds stood at ₹81,145 Crore in June 2024 while ₹40,437 Crore of redemptions were seen. It is this gross figure of ₹1,21,582 Crore that determines the equity churn by mutual funds in the month of June 2024. In India there are 45 AMCs; so, we cannot look at the buying and selling of all these AMCs. We will restrict to 10 most powerful AMCs in terms of equity market AUM and clout.

SBI MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JUNE 2024

As of the close of June 30, 2024, SBI Mutual Funds had total equity AUM of ₹7,38,617 Crore, making it the largest fund by AUM by a margin. Over the last 1 month the equity fund AUM has grown by 8.8% while the yoy growth in equity fund AUM stands at an impressive 41.0%. SBI MF holds a total of 583 stocks across all its equity schemes. Here are some of the portfolio highlights of SBI mutual funds for June 2024.

• Its major stock additions in June 2024 included Sanofi Consumer Healthcare (4.15 Lakh shares), Stanley Lifestyles (27.77 Lakhs shares), and Le Travenues Technology – IXIGO (80.37 Lakh shares). In addition, SBI MF also bought 5.24 Lakh shares of AMI Organics and 4.99 Lakh shares of Sansera Engineering. Two of these additions were in IPOs.
• The SBI Mutual Fund had two major exits in the month of June 2022; selling 32 Lakh shares of IREDA, and 15.7 Lakh shares of Shipping Corporation of India Land,
• The top 5 equity holdings of SBI Mutual fund included HDFC Bank, ICICI Bank, Reliance Industries, Infosys, and SBI. Its maximum sectoral exposure was to BFSI, Oil & Gas, Auto, IT Services, and FMCG.

For June 2024, SBI Mutual Fund bought a total of 7 stocks and sold 3 stocks.

ICICI PRUDENTIAL MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JUNE 2024

As of the close of June 30, 2024, ICICI Prudential Mutual Fund has total equity AUM of ₹4,63,068 Crore, making it the second largest fund by AUM. Over the last 1 month the equity fund AUM has grown by 5.6% while the yoy growth in equity fund AUM stands at an impressive 67.0%. ICICI Prudential Mutual Fund holds a total of 639 stocks across all its equity schemes. Here are portfolio highlights of ICICI Prudential Mutual Fund in June 2024.

• Its major stock additions in June 2024 included Sharda Motors (5.18 Lakh shares), MOIL (2.50 Lakhs shares), and smaller quantities of Sanofi Consumer Healthcare India and Authum Investment and Infrastructure.
• The fund’s major exits in June 2024 included Rallis (-4.94 Lakh shares) and smaller quantities of other stocks like Privi Specialty Chemicals, TCI Express, Delta Corp, Rossari Biotech, SIS Ltd, Aarti Drugs and Jamna Auto Industries Ltd.
• The top 5 equity holdings of ICICI Prudential Mutual Fund included ICICI Bank, HDFC Bank, Reliance Industries, Infosys, and Larsen & Toubro. The fund has an exposure to 30 sectors and Its maximum sectoral exposure was to BFSI, Automobiles, IT Services, Oil & Gas, and Pharmaceuticals.

For June 2024, ICICI Prudential Mutual Fund bought a total of 4 stocks and sold 11 stocks.

HDFC MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JUNE 2024

As of the close of June 30, 2024, HDFC Mutual Fund has total equity AUM of ₹4,24,422 Crore, making it the third largest fund by AUM. Over the last 1 month the equity fund AUM has grown by 8.2% while the yoy growth in equity fund AUM stands at an impressive 69.4%. HDFC Mutual Fund holds a total of 660 stocks across all its equity schemes spread across 30 sectors. Here are portfolio highlights of HDFC Mutual Fund in June 2024.

• Its major stock additions in June 2024 included Le Travenues Technology – IXIGO (52.00 Lakh shares), DEE Development Engineers (12.06 Lakh shares), Sharda Motor Industries (5.13 Lakh shares), and Stanley Lifestyles (4.06 Lakh shares)
• The fund’s had no major exits in June 2024 but exited of smaller stocks which it held in small quantities. This list includes stocks like Privi Specialty Chemicals, Rain Industries, SIS Ltd, Aarti Drugs, Orient Electric, Rossari Biotech, GACL, NESCO etc.
• The top 5 equity holdings of HDFC Mutual Fund included HDFC Bank, ICICI Bank, Axis Bank, Reliance Industries, and Infosys Ltd. Out of 30 sectors exposed to, maximum sectoral exposure was to BFSI, Pharmaceuticals, Automobiles, IT Services, and oil & gas.

For June 2024, HDFC Mutual Fund bought a total of 7 stocks and sold 12 stocks.

NIPPON INDIA MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JUNE 2024

As of the close of June 30, 2024, Nippon India Mutual Fund has total equity AUM of ₹3,49,589 Crore, making it the fourth largest fund by equity AUM. Over the last 1 month the equity fund AUM has grown by 8.2% while the yoy growth in equity fund AUM stands at an impressive 83.3%. Nippon India Mutual Fund holds a total of 618 stocks across all its equity schemes spread across a total of 30 sectors. Here are portfolio highlights of Nippon India Mutual Fund in June 2024.

• Its major stock additions in June 2024 included MAS Financial Services (61.14 Lakh shares), Allied Blenders & Distillers (58.55 Lakh shares), Stanley Lifestyles (48.36 Lakh shares), Sanofi Consumer Healthcare (8.81 Lakh shares), and Sharda Motor Industries (4.13 Lakhs shares).
• The fund’s major exits in June 2024 included IREDA (-30.67 Lakh shares) and Paras Defence and Space Technology (-10.49 Lakh shares).
• The top 5 equity holdings of Nippon India Mutual Fund included HDFC Bank, NTPC, ICICI Bank, Reliance Industries, and Power Grid Corporation. Out of the 30 sectors exposed to, maximum sectoral exposure was to BFSI, Power Pharmaceuticals, capital goods, and Automobiles.

For June 2024, Nippon India Mutual Fund bought a total of 5 stocks and sold 2 stocks.

KOTAK MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JUNE 2024

As of the close of June 30, 2024 , Kotak Mutual Fund has total equity AUM of ₹2,59,179 Crore, making it the fifth largest fund by equity AUM. Over the last 1 month the equity fund AUM has grown by 7.2% while the yoy growth in equity fund AUM stands at an impressive 64.8%. Kotak Mutual Fund holds a total of 375 stocks across 28 sectors all its equity schemes. Here are portfolio highlights of Kotak Mutual Fund in June 2024.

• Its major stock additions in June 2024 included DEE Development Engineers (34.43 Lakh shares), Jaiprakash Power Ventures (22.09 Lakhs shares), Aditya Birla Fash Fashion & Retail (21.97 Lakh shares), and SJVN Ltd (3.95 Lakh shares).
• The fund’s major exits in June 2024 included VIP Industries (-19.54 Lakh shares), Suprajit Engineering (-6.82 Lakh shares), Bikaji Foods International (-1.31 Lakh shares), Nazara Technologies (-0.50 Lakh shares), and SignatureGlobal India (-0.29 Lakh shares).
• The top 5 equity holdings of Kotak Mutual Fund included HDFC Bank, ICICI Bank, Bharat Electronics, Reliance Industries, and State Bank of India. Out of 28 sectors exposed, maximum sectoral exposure was to BFSI, automobiles, Automobiles, IT Services, oil & gas, and pharmaceuticals.

For June 2024, Kotak Mutual Fund bought a total of 9 stocks and sold 8 stocks.

UTI MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JUNE 2024

As of the close of June 30, 2024, UTI Mutual Fund has total equity AUM of ₹2,46,372 Crore, making it the sixth largest fund by equity AUM. Over the last 1 month the equity fund AUM has grown by 7.9% while the yoy growth in equity fund AUM stands at an impressive 36.4%. UTI Mutual Fund holds a total of 438 stocks across all its equity schemes spread across 30 sectors. Here are portfolio highlights of UTI Mutual Fund in June 2024.

• Its major stock additions in June 2024 included Global Health (4.96 Lakh shares), Bajaj Consumer Care (2.52 Lakh shares), and Ujjivan Small Finance Bank (2.40 Lakh shares).
• The fund’s major exits in June 2024 included Vardhaman Textiles (-8.51 Lakh shares), Gujarat Pipavav Port (-6.35 Lakh shares), India Cements Ltd (-4.50 Lakh shares), and SRM Energy (-1.93 Lakh shares).
• The top 5 equity holdings of UTI Mutual Fund included HDFC Bank, ICICI Bank, Reliance Industries, Infosys, and Bharti Airtel Ltd. Out of 30 sectors, its maximum sectoral exposure was to BFSI, IT Services, automobiles, oil & gas, and FMCG.

For June 2024, UTI Mutual Fund bought a total of 7 stocks and sold 8 stocks.

AXIS MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JUNE 2024

As of the close of June 30, 2024, Axis Mutual Fund has total equity AUM of ₹1,91,289 Crore, making it the seventh largest fund by equity AUM. Over the last 1 month the equity fund AUM has grown by 8.7% while the yoy growth in equity fund AUM stands at an impressive 28.6%. Axis Mutual Fund holds a total of 366 stocks spread over 28 sectors across all its equity schemes. Here are portfolio highlights of Axis Mutual Fund in June 2024.

• Its major stock additions in June 2024 included Suprajit Engineers (7.47 Lakh shares), Sharda Motor Industries (4.31 Lakhs shares), Gujarat Fluorochemicals (3.62 Lakh shares), Indraprastha Gas Ltd (2.76 Lakh shares), and Emami Ltd (1.27 Lakh shares).
• The fund’s major exits in June 2024 included Zee Entertainment (-15.69 Lakh shares), Gujarat Narmada Valley Fertilizers (-2.60 Lakh shares), and Tata Chemicals (-1.90 Lakh shares).
• The top 5 equity holdings of Axis Mutual Fund included HDFC Bank, ICICI Bank, Bajaj Finance, Avenue Supermarts, and Tata Consultancy Services (TCS). Out of the 28 sectors exposed to, its maximum sectoral exposure was to BFSI, automobiles, IT Services, pharmaceuticals, and Capital Goods.

For June 2024, Axis Mutual Fund bought a total of 10 stocks and sold 4 stocks.

ABSL MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JUNE 2024

As of the close of June 30, 2024, ABSL Mutual Fund (Aditya Birla Sun Life) has total equity AUM of ₹1,64,876 Crore, making it the eighth largest fund by equity AUM. Over the last 1 month the equity fund AUM has grown by 6.0%, while the yoy growth in equity fund AUM stands at an impressive 35.9%. ABSL Mutual Fund holds a total of 452 stocks spread over 29 sectors across all its equity schemes. Here are portfolio highlights of ABSL Mutual Fund in June 2024.

• Its major stock additions in June 2024 included MAS Financial Servicers (12.23 Lakh shares), DEE Development Engineers (7.94 Lakh shares), Sanofi Consumer Healthcare (7.58 Lakh shares), and Transformers & Rectifiers (3.46 Lakhs shares).
• The major exits of the fund in June 2024 included NMDC Steel Ltd (-22.81 Lakh shares), DCB Bank (-10.07 Lakh shares), Chambal Fertilizers & Chemicals (-5.34 Lakh shares), and Heritage Foods (-3.61 Lakhs shares).
• The top 5 equity holdings of ABSL Mutual Fund included HDFC Bank, ICICI Bank, Infosys, Reliance Industries, and Bharti Airtel. Out of 29 sectors, its maximum sectoral exposure was to BFSI, Auto, IT Services, pharmaceuticals, and oil & gas.

For June 2024, ABSL Mutual Fund bought a total of 5 stocks and sold 6 stocks.

MIRAE MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JUNE 2024

As of the close of June 30, 2024, Mirae Mutual Fund has total equity AUM of ₹1,57,738 Crore, making it the ninth largest fund by equity AUM. Over the last 1 month the equity fund AUM has grown by 7.0% while the yoy growth in equity fund AUM stands at an impressive 39.2%. Mirae Mutual Fund holds a total of 422 stocks spread over 29 sectors across all its equity schemes. Here are portfolio highlights of Mirae Mutual Fund in June 2024.

• Its major stock additions in June 2024 included Wonderla Holidays (1.89 Lakh shares), Sansera Engineering (1.67 Lakhs shares), Jupiter Wagons (0.77 Lakh shares), and HBL Power Systems (0.64 Lakh shares).
• The fund’s major exits in June 2024 included Kolte Patel Developers (-3.94 Lakh shares), Tatva Chinta Pharmachem (-3.18 Lakh shares), and Indigo Paints (-1.52 Lakh shares).
• The top 5 equity holdings of Mirae Mutual Fund included HDFC Bank, ICICI Bank, Axis Bank, Reliance Industries, and Infosys Ltd. Out of 29 sectors held, its maximum sectoral exposure was to BFSI, IT Services, Pharmaceuticals, automobiles, and oil & gas.

For June 2024, Mirae Mutual Fund bought a total of 18 stocks and sold 19 stocks.

DSP MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JUNE 2024

As of June 30, 2024, DSP Mutual Fund has total equity AUM of ₹1,10,097 Crore, making it the tenth largest in India by AUM. Over last 1 month the equity fund AUM grew by 8.6% while the yoy growth in equity fund AUM stood at 52.0. DSP Mutual Fund holds a total of 390 stocks spread over 30 sectors across all equity schemes. Here are portfolio highlights of DSP Mutual Fund in June 2024.

• Its major stock additions in June 2024 included Sansera Engineering (34.08 Lakh shares), CSB Bank (3.00 Lakhs shares), KPIT Technologies (2.91 Lakh shares), and Bajaj Electricals (2.52 Lakh shares).
• The fund’s major exits in June 2024 included Zee Entertainment (-55.32 Lakh shares), Heritage Foods (-37.12 Lakh shares), HUDCO Ltd (4.80 Lakh shares), and Jamna Auto (-0.77 Lakh shares).
• The top 5 equity holdings of DSP Mutual Fund included HDFC Bank, ICICI Bank, Axis Bank, Bajaj Finance, and Infosys Ltd. Out of the 30 sectors in its portfolio mix, its maximum sectoral exposure was to BFSI, Automobiles, pharmaceuticals, IT Services and Capital Goods.

For June 2024, DSP Mutual Fund bought a total of 14 stocks and sold 11 stocks.

The gist of the mutual fund churn in June 2024 has been that the focus has been more on IPOs on the buy side, while mutual funds were also active in secondary markets.