In a bull market, a few sectors lead while the others lag. Over the last one year, the Indian equity market surged remarkably thanks to improved earnings, FII buying, and favourable macros. With changing market dynamics, many sectors turned attractive while some went out of favour. Active fund managers sense these changes early and reposition their portfolios accordingly. Here are the sub-sectors wherein the active mutual fund managers trimmed their position over the last six months. Fund managers cut their positions in the stocks within these sectors as either the stocks might have attained their target prices or the sectors turned unattractive. Only actively managed equity schemes and hybrid schemes (except arbitrage funds) are considered for compilation. Data as of June 2023. Source: ACEMF.
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Port Market value of MF investment: Rs 2,877 crore Change in market value (in %) over the last six months: -33% Sample of stocks wherein MF cut exposure: Adani Ports and Special Economic Zone
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Trading Market value of MF investment: Rs 2,001 crore Change in market value (in %) over the last six months: -32% Sample of stocks wherein MF cut exposure: SIRCA Paints India
Metal - Non Ferrous Market value of MF investment: Rs 8,137 crore Change in market value (in %) over the last six months: -21% Sample of stocks wherein MF cut exposure: Hindalco Industries, Hindustan Copper, Hindustan Zinc and Vedanta
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Aluminium & Aluminium Products Market value of MF investment: Rs 717 crore Change in market value (in %) over the last six months: -20% Sample of stocks wherein MF cut exposure: National Aluminium Company
Bank - Public Market value of MF investment: Rs 60,639 crore Change in market value (in %) over the last six months: -15% Sample of stocks wherein MF cut exposure: Bank Of Baroda, Bank Of Maharashtra and Union Bank Of India
