 "Mutual fund small-cap schemes increase exposure towards cyclicals sectors")
Mutual fund small-cap schemes increased their exposure towards cyclicals sectors, such as metals, engineering and construction sectors in hope of a recovery in gross domestic product (GDP). The top five buys of small-cap equity funds in April were Hindustan Copper, Hathway Cable & Datacom, Lux Industries, Bharat Rasayan and Dilip Buildcon.
Reliance industries-promoted Hathway Cable & Datacom had pared its stake through OFS in March this year. The data provided by ICICI Direct Research shows that Hathway Cable was among top 10 buys by fund houses such as ICICI Prudential AMC and Nippon Life India AMC in April.
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