The fund increased its exposure in Wyeth Lederle to 1,22,600 shares by picking up to 50,000 shares in July. The fund managers purchased 20,000 shares of Cipla, 11,000 shares of Hoechst Marion Russel and 5,000 shares of Dr Reddy's Laboratories. The fund managers disposed nearly 95,000 shares of Ranbaxy Laboratories, about 47,000 shares of Cadila, 20,000 shares of Glaxo and 7,000 shares of Torrent Pharma.
The KPMF's equity portfolio for the open-ended equity schemes for July remains the same as in June. Its strategy remains positive on IT sector and it continue to hold investments in software companies, despite, the sector exposure put a dent in the fund's assets value in July. The fund assets value in equity holding declined by Rs 111 crore to Rs 1,237.50 crore with IT sector contributing almost Rs 100 crore.
The loss on account of melting of ICE sector has been reflected in NAV's of fund. One month performance indicates two IT related schemes having under performed the BSE Sensex during June. As against decline in Sensex by 9.87 per cent, the NAV of KP Infotech fund fell by 13.64 per cent while the Internet fund declined by 12.47 per cent.
The NAV's of other schemes which have high exposure in IT stocks too have suffered. The NAV of KP Bluechip, KP Prima Plus and KP Balance fund fell by 7.63 per cent, 8.82 per cent and 8.88 per cent respectively. However, the KP FMCG fund out performed all the schemes with a positive return of 3.28 per cent.
