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5 mutual funds that fell less than the Nifty


As the selloff wreaked havoc on the stock market, no equity mutual fund was spared. While the Nifty falling 28% in the past one month, many schemes fell even sharper. But, there are a few schemes that have taken a relatively moderate hit compared to others. Though it might not console investors that the better performing schemes too have lost money, analysts said it may be a good guide to select your equity product for the future. Here are five schemes that have fallen lesser than the Nifty in the turmoil. Most of these schemes have low exposure to financial services, higher holding in retail and consumer sectors, with enough cash in their portfolios.

ICICI Pru Focused Equity Fund

NAV Fall:
20.14% AUM:
Rs 571 crore

Fund Manager:
Mittul Kalawadia / Mrinal Singh

Top 3 holdings:
Bharti Airtel, Infosys, Sun Pharma

Underweight financials and high cash holding in the portfolio helped the fund manager emerge winner in the last one month falling just 20% and turning a topper in the last one month. The fund manager has a value-oriented portfolio with just 21 stocks with the top 10 accounting for 63.5% of the portfolio. As on February-end, the fund has a 24.5% cash holding in the portfolio and is underweight financials with just a 5% exposure.

Axis Midcap Fund

NAV Fall:
20.71% AUM:
Rs 5,193 crore

Fund Manager:
Shreyash Devalkar

Top 3 holdings:
AvenueSupermarts, City Union Bank, Bata India

High cash holding of 18% due to strong inflows, higher exposure to retailers like Trent and DMart and underweight financials and private sector banks helped this fund stay ahead of its peers. The fund manager holds a diversified portfolio of 50-60 stocks with the top 10 accounting for 37% of the portfolio.

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UTI MNC


NAV Fall:
20.99% AUM:
Rs 2,137 crore

Fund Manager:
Swati Kulkarni

Top 3 holdings:
HUL, Maruti Suzuki, Nestle India

The fund manager runs a concentrated portfolio of 40 stocks and is overweight FMCG that accounts for 39% of its portfolio and includes blue chips like Hindustan Unilever, Nestle, Britannia, United Spirits, Glaxo Consumer Healthcare and P&G Hygiene. In an uncertain market, investors favour companies with strong global parentage, strong established brands in the domestic market and low-debt, which has helped this fund outperform.

Axis Multicap

NAV Fall:
21.33% AUM:
Rs 5,852 crore

Fund Manager:
Shreyash Devalkar


Top 3 holdings:
Bajaj Finance, ICICI Bank, Avenue Supermarts


This two-and-half-year old fund with a concentrated portfolio of 30 stocks primarily in large-cap companies with strong growth outperformed other funds in the category as it was overweight retail, FMCG along with a 17% cash holding in its portfolio. High exposure to Avenue Supermarts, Hindustan Unilever, Nestle and Bata helped the fund stay ahead of others in its category.

Aditya Birla SL Manuf Equity

NAV Fall:
21.38% AUM:
Rs 490 crore

Fund Manager:
Anil Shah

Top 3 holdings:
GSK Consumer, RIL, HeidelbergCement

The fund with a mandate of investing in a basket of companies that are engaged in the manufacturing segment was a winner as it is overweight FMCG companies and does not have any exposure to banking and financials, one of the sectors that got hit most in the recent fall. Stocks like ITC, GSK Consumer, Hindustan Unilever, Dabur, United Breweries and United Spirits performed well for the fund.





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