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

14 Jun 2024 , 11:33 AM

MAY 2024 – ROBUST FOR EQUITY FUNDS, RECORD FOR SIPS

For the last 3 months, equity funds had struggled with dwindling flows. However, May 2024 appears to have changed all that. Equity fund flows in May 2024 turned around sharply to ₹34,697 crore; changing the falling of trend of equity fund flows of ₹18,917 Crore in April, ₹22,633 Crore in March, and ₹26,703 Crore in February 2024. The May 2024 equity fund flows also happens to be an all-time record for any month, better the previous record of May 2022. Within the equity fund category, bulk of the buying came into sectoral / thematic funds, where were largely driven by the ₹9,563 crore NFO of HDFC Manufacturing Fund. However, the good news is that small cap funds are back in favour in May 2024. Clearly, alpha is ok, even with concentration risk. While NFO flows were robust at ₹10,140 Crore in May 2024, the gross SIP flows set a lifetime record of ₹20,904 Crore in the month of May 2024. That is driving most of the equity fund 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. One thing we need to understand is that MF churn is not determined by net equity fund inflows of ₹34,697 Crore. Instead, the participation in stock markets is determined by the gross churn, which is the sum of purchases and redemptions. The gross purchases of equity funds stood at ₹71,272 Crore in May 2024 while ₹36,575 Crore of redemptions were seen. It is this gross figure of ₹1,07,847 Crore that determined the equity churn by mutual funds in the month of May 2024. In India there are 45 AMCs; so, we cannot obviously look at the buying and selling of all these AMCs. We will restrict to 10 most powerful funds in terms of equity market AUM.

SBI MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MAY 2024

As of the close of May 31, 2024, SBI Mutual Funds has total equity AUM of ₹6,78,697 Crore, making it the largest fund by AUM by a margin. Over the last 1 month the equity fund AUM has grown by 0.5% while the yoy growth in equity fund AUM stands at an impressive 36.0%. SBI MF holds a total of 579 stocks across all its equity schemes. Here are some of the portfolio highlights of SBI mutual funds for May 2024.

• Its major stock additions in May 2024 included Go Digit General Insurance (73.22 Lakh shares), TBO Tek Ltd (4.09 Lakhs shares), and Indegene (5.93 Lakh shares). All these 3 additions were in the IPO market only.
• The SBI Mutual Fund did not have any major exits in the month of May 2024, and any exits were very marginal only.
• The top 5 equity holdings of SBI Mutual fund included HDFC Bank, Reliance Industries ICICI Bank, SBI, and Infosys Ltd. Its maximum sectoral exposure was to BFSI, Oil & Gas, Auto, IT Services, and FMCG.

For May 2024, SBI Mutual Fund bought a total of 3 stocks and sold 0 stocks.

ICICI PRUDENTIAL MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MAY 2024

As of the close of May 31, 2024, ICICI Prudential Mutual Fund has total equity AUM of ₹4,38,461 Crore, making it the second largest fund by AUM. Over the last 1 month the equity fund AUM has grown by 2.9% while the yoy growth in equity fund AUM stands at an impressive 64.4%. ICICI Prudential Mutual Fund holds a total of 643 stocks across all its equity schemes. Here are portfolio highlights of ICICI Prudential Mutual Fund in May 2024.

• Its major stock additions in May 2024 included Go Digit General Insurance (66.41 Lakh shares), Aadhar Housing Finance (22.44 Lakhs shares), TBO Tek (4.09 Lakh shares), Indegene Ltd (9.29 Lakh shares), AWFIS (4.69 lakh shares) and GHCL (4.27 Lakh shares).
• The fund’s major exits in May 2024 included Aarti Pharmalabs (-5.99 Lakh shares), Gandhar Oil Refinery (-10.88 Lakh shares), Federal Mogul Goetze (-1.88 Lakh shares), and Teamlease Services (-0.11 Lakh shares).
• 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 May 2024, ICICI Prudential Mutual Fund bought a total of 8 stocks and sold 4 stocks.

HDFC MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MAY 2024

As of the close of May 31, 2024, HDFC Mutual Fund has total equity AUM of ₹3,92,236 Crore, making it the third largest fund by AUM. Over the last 1 month the equity fund AUM has grown by 4.9% while the yoy growth in equity fund AUM stands at an impressive 64.7%. HDFC Mutual Fund holds a total of 665 stocks across all its equity schemes spread across 30 sectors. Here are portfolio highlights of HDFC Mutual Fund in May 2024.

• Its major stock additions in May 2024 included Aadhar Housing Finance (33.28 Lakh shares), and Awfis Space Solutions (8.98 Lakh shares).
• The fund’s major exits in May 2024 included Fedbank Financial Services (-17.86 Lakh shares), and Shaily Engineering Plastics (-1.59 Lakh Shares).
• The top 5 equity holdings of HDFC Mutual Fund included HDFC Bank, ICICI Bank, Axis Bank, State Bank of India (SBI) and Bharti Airtel. Out of 30 sectors exposed to, maximum sectoral exposure was to BFSI, Pharmaceuticals, Automobiles, IT Services, and oil & gas.

For May 2024, HDFC Mutual Fund bought a total of 2 stocks and sold 2 stocks.

NIPPON INDIA MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MAY 2024

As of the close of May 31, 2024, Nippon India Mutual Fund has total equity AUM of ₹3,23,185 Crore, making it the fourth largest fund by equity AUM. Over the last 1 month the equity fund AUM has grown by 3.5% while the yoy growth in equity fund AUM stands at an impressive 78.9%. Nippon India Mutual Fund holds a total of 615 stocks across all its equity schemes spread across a total of 30 sectors. Here are portfolio highlights of Nippon India Mutual Fund in May 2024.

• Its major stock additions in May 2024 included Protean e-Gov Technologies (14.54 Lakh shares), TBO Tek (6.87 lakh shares), Awfis Space Solutions (14.70 lakh shares), Indegene Ltd (9.86 lakh shares), and Jupiter Life Line Hospitals (2.00 Lakhs shares).
• The fund’s major exits in May 2024 included Jyoti CNC Automation (-5.90 Lakh shares) and LA Opala RG Ltd (-9.84 lakh shares).
• The top 5 equity holdings of Nippon India Mutual Fund included HDFC Bank, NTPC, ICICI Bank, Reliance Industries, and Coal India. Out of 30 sectors exposed to, maximum sectoral exposure was to BFSI, Power Pharmaceuticals, capital goods, and Automobiles.

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

KOTAK MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MAY 2024

As of the close of May 31, 2024 , Kotak Mutual Fund has total equity AUM of ₹2,41,820 Crore, making it the fifth largest fund by equity AUM. Over the last 1 month the equity fund AUM has grown by 2.6% while the yoy growth in equity fund AUM stands at an impressive 61.1%. Kotak Mutual Fund holds a total of 374 stocks across 28 sectors all its equity schemes. Here are portfolio highlights of Kotak Mutual Fund in May 2024.

• Its major stock additions in May 2024 included Prudent Corporate Advisory (18.00 Lakh shares), TBO Tek (4.17 Lakhs shares), AMI Organics (1.24 Lakh shares), and Nazara Technologies (0.50 Lakh shares).
• The fund’s major exits in May 2024 included Aditya Birla Fashions (-30.58 Lakh shares), Laxmi Organic Industries (-13.99 Lakh shares), Voltamp Transformers (-0.18 Lakh shares), MRPL Ltd (-4.03 Lakh shares), and Fusion Micro Finance (-1.95 Lakh shares).
• The top 5 equity holdings of Kotak Mutual Fund included HDFC Bank, ICICI Bank, Bharat Electronics, State Bank of India, and Axis Bank Ltd. Out of 28 sectors exposed, maximum sectoral exposure was to BFSI, automobiles, oil & gas, pharma, and capital goods.

For May 2024, Kotak Mutual Fund bought a total of 4 stocks and sold 5 stocks.

UTI MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MAY 2024

As of the close of May 31, 2024, UTI Mutual Fund has total equity AUM of ₹2,28,316 Crore, making it the sixth 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 31.9%. UTI Mutual Fund holds a total of 439 stocks across all its equity schemes spread across 30 sectors. Here are portfolio highlights of UTI Mutual Fund in May 2024.

• Its major stock additions in May 2024 included Indegene Ltd (6.70 Lakh shares), and Awfis Space Solutions (2.50 Lakh shares).
• The fund’s major exits in May 2024 included JB Chemicals & Pharma (-3.04 Lakh shares), Shukra Jewellery (-1.28 Lakh shares), and Jyothi Labs Ltd (-0.01 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 May 2024, UTI Mutual Fund bought a total of 2 stocks and sold 3 stocks.

AXIS MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MAY 2024

As of the close of May 31, 2024, Axis Mutual Fund has total equity AUM of ₹1,75,956 Crore, making it the seventh largest fund by equity AUM. Over the last 1 month the equity fund AUM has grown by 0.9% while the yoy growth in equity fund AUM stands at an impressive 24.0%. Axis Mutual Fund holds a total of 360 stocks spread over 28 sectors across all its equity schemes. Here are portfolio highlights of Axis Mutual Fund in May 2024.

• Its major stock additions in May 2024 included Oil India (28.96 Lakh shares), Go Digit General Insurance (38.26 Lakhs shares), Affle India (13.15 Lakh shares), Engineers India (19.56 lakh shares), and Aadhar Housing Finance (12.82 Lakh shares).
• The fund’s major exits in May 2024 included Sun TV Networks (-1.76 Lakh shares) and Aditya Birla Fashion & Retail Ltd (-0.16 Lakh shares).
• The top 5 equity holdings of Axis Mutual Fund included ICICI Bank, HDFC Bank, Bajaj Finance, Tata Consultancy Services (TCS), and Avenue Supermarts. Out of the 28 sectors exposed to, its maximum sectoral exposure was to BFSI, automobiles, pharmaceuticals, IT Services, and Capital Goods.

For May 2024, Axis Mutual Fund bought a total of 11 stocks and sold 2 stocks.

ABSL MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MAY 2024

As of the close of May 31, 2024, ABSL Mutual Fund (Aditya Birla Sun Life) has total equity AUM of ₹1,55,486 Crore, making it the eighth largest fund by equity AUM. Over the last 1 month the equity fund AUM has grown by 0.5%, while the yoy growth in equity fund AUM stands at an impressive 32.9%. ABSL Mutual Fund holds a total of 453 stocks spread over 29 sectors across all its equity schemes. Here are portfolio highlights of ABSL Mutual Fund in May 2024.

• Its major stock additions in May 2024 included IRB Infra (96.29 Lakh shares), and Pitti Engineering (1.66 Lakhs shares).
• The fund did not have any major exits in the month of May 2024 and its few exits were almost marginal in nature.
• The top 5 equity holdings of ABSL Mutual Fund included HDFC Bank, ICICI Bank, Infosys, Reliance Industries, and Larsen & Toubro. Out of 29 sectors, its maximum sectoral exposure was to BFSI, Auto, IT Services, pharmaceuticals, and oil & gas.

For May 2024, ABSL Mutual Fund bought a total of 3 stocks and sold 0 stocks.

MIRAE MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MAY 2024

As of the close of May 31, 2024, Mirae Mutual Fund has total equity AUM of ₹1,47,460 Crore, making it the ninth largest fund by equity AUM. Over the last 1 month the equity fund AUM has grown by 0.9% while the yoy growth in equity fund AUM stands at an impressive 35.5%. Mirae Mutual Fund holds a total of 423 stocks spread over 30 sectors across all its equity schemes. Here are portfolio highlights of Mirae Mutual Fund in May 2024.

• Its major stock additions in May 2024 included Go Digit Insurance (131.98 Lakh shares), Arvind Ltd (19.22 Lakhs shares), Ujjivan Small Finance Bank (18.15 Lakh shares), DCB Bank (8.50 lakh shares), and TBO Tek Ltd (2.38 Lakh shares).
• The fund’s major exits in May 2024 included Apeejay Surrendra Park Hotels (-12.90 Lakh shares), and Ujjivan Financial Services Ltd (-1.56 Lakh shares).
• The top 5 equity holdings of Mirae Mutual Fund included HDFC Bank, ICICI Bank, Reliance Industries, Axis Bank, and Infosys Ltd. Out of 30 sectors held, its maximum sectoral exposure was to BFSI, Pharmaceuticals, IT Services, automobiles, and oil & gas.

For May 2024, Mirae Mutual Fund bought a total of 9 stocks and sold 2 stocks.

DSP MUTUAL FUND: EQUITY PORTFOLIO CHURN IN MAY 2024

As of May 31, 2024, DSP Mutual Fund has total equity AUM of ₹1,01,404 Crore, making it the tenth largest in India by AUM. Over last 1 month the equity fund AUM grew by 3.3% while the yoy growth in equity fund AUM stood at 46.3%. DSP Mutual Fund holds a total of 387 stocks spread over 30 sectors across all equity schemes. Here are portfolio highlights of DSP Mutual Fund in May 2024.

• Its major stock additions in May 2024 included Indegene Ltd (4.71 Lakh shares), Symphony Ltd (1.51 Lakhs shares), TBO Tek (1.07 Lakh shares), and Muthoot Finance (0.41 Lakh shares).
• The fund’s major exits in May 2024 included Tata Technologies (-2.82 Lakh shares), TTK Prestige (-4.10 Lakh shares), IREDA Ltd (13.54 lakh shares), and Aditya Birla Fashions & Retail Ltd (-3.09 Lakh shares).
• The top 5 equity holdings of DSP Mutual Fund included HDFC Bank, ICICI Bank, Power Finance Corporation, Axis Bank, and Bajaj Finance. Out of the 30 sectors in its portfolio mix, its maximum sectoral exposure was to BFSI, Automobiles, pharmaceuticals, IT Services and Capital Goods.

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

The gist of the mutual fund churn in May 2024 has been that the focus has been more on IPOs on the buy side, while mutual funds have been generally quiet in secondary markets.