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Market rout weighs on net asset values of most mutual fund schemes

Barring ITC, all other stocks with highest exposure have seen a drop in their stock prices between 4% and 9% this month

Chandan Kishore Kant 

Mutual funds

The top 10 holdings of equity MFs were not spared in the ongoing market carnage. Barring ITC, all other stocks with highest exposure have seen a drop in their between 4% and 9% this month. The top 10 stocks account for nearly a fifth of the total equity assets under management (AUM). The correction has weighed on the net asset values (NAVs) of most Mortgage firm HDFC has declined the most this month, followed by Reliance Industries. These two accounted for Rs 255 billion of equity MF AUM as of December 2017. Kotak Mahindra Bank and HDFC Bank, too, have seen their erode by nearly 7% each. In comparison, the Sensex is down 5.2% this month. and Infosys are the only two stocks in the top 10 that have managed to outperform the market this month.

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First Published: Thu, February 08 2018. 05:50 IST
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