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MFs have raised stake in this 133 cos in the last 1 year; do you own any?
Of the 133 companies that saw increased mutual fund buying in the last four quarters, 31 stocks delivered up to 80 percent return.
Fund managers lapped up stocks across mid, small and large cap space when most other investors were busy booking profits, especially in the April-June quarter. They have raised stake in as many as 133 stocks in the last one year.
Of these, 31 companies delivered positive returns up to 80 percent. These include: Firstsource Solutions, Zydus Wellness, HIL, GlaxoSmithKline Pharmaceuticals, Asian Paints, Bata India and Bharat Financial Inclusion
The balance has fallen up to 79 percent over the same period. Notable among them include Orient Cement, Bharat Electronics, Tata Motors, Engineers India, Bharti Airtel, ABB, Multi Commodity Exchange, Cadila Healthcare, Aurobindo Pharma, NTPC, and UltraTech Cement.
Average assets under management (AUM) of the mutual fund industry surged to Rs 23.40 lakh crore in June, from Rs 21.37 lakh crore seen in December, according to Association of Mutual Funds in India data.
In 2017, midcaps had generated positive alpha (48 percent) by outperforming benchmark indices. But in 2018, things reversed.
The strong fundamental stock has also corrected in 2018. The recent price correction seems to be a great buying opportunity. So, there exists a possibility that these stocks have turned out to be fund managers’ favorites.
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