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What fund managers bought and sold in May

Chandan Kishore Kant / 16 Jun 17 | 04:59 AM

Mutual funds made substantial churn to their stock holdings amid strong momentum in the stock markets and robust inflows into schemes. An analysis of buying and selling pattern of fund managers for the month of May, show MFs preferring financial companies, with Kotak Mahindra Bank and HDFC emerging as prominent buys. Money managers also indulged in bargain-hunting of pharma stocks, buying into counters such as Sun Pharma, Dr Reddys and Aurobindo Pharma. On the other hand, stocks that saw profit-taking by fund managers include Indian Oil, Rural Electrification Corporation (REC), Godrej Consumer, Maruti Suzuki and Hindustan Unilever. The selling comes after a sharp run up in most of these stocks this year. Meanwhile, cash levels at equity MFs inched up to 6.46 per cent, or Rs 36,300 crore at the end of May. 

Source: Edelweiss Fund Insight

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