Mutual fund shareholding in Sensex cos shrink in 2012
mutual funds raise their holdings are Dr. Reddy’s Laboratories, Maruti Suzuki, L&T, SBI, HDFC and ICICI Bank and the stake hike in each of them was less than 1 percentage point.
According to Association of Mutual Funds in India data, in the calendar 2012, the net outflow from equity schemes stood at Rs 14,114 crore which led to a drop in mutual funds holding in large number of Sensex companies.
Even as the Sensex rose by 26 per cent and the BSE 100 (that includes 100 stocks) rose by 30 per cent during the calendar 2012, equity assets under management (AUM) of the mutual fund industry rose by only 18.4 per cent from Rs 1,40,612 crore in December 2011 to Rs 1,66,538 crore in December 2012.
Even the shareholding of insurance companies in majority of these companies has gone down.
Out of the 27 companies for which the insurance shareholding data was available, 19 companies have witnessed a decline in their shareholding by insurance companies and 8 of them have witnessed a hike. While Cipla and ICICI Bank witnessed the maximum dip in the shareholding by insurance companies of 4.5 and 2.9 percentage points respectively, ONGC and BHEL saw the maximum increase of shareholding by insurance companies of 4.6 and 2.7 percentage points respectively.
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