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Kotak Opportunities Fund re-shuffling the portfolio

Kotak Opportunities which invests in large-cap stocks has about 15 per cent of its portfolio constituting small and mid-cap stocks.

18 May 2008

Kotak Opportunities Fund which invests primarily in large-cap stocks has 15 per cent of its portfolio constituting small and mid-cap stocks.

The Kotak Opportunities Fund which invests primarily in large-cap stocks has 15 per cent of its portfolio constituting small and mid-cap stocks.

It has managed to beat its benchmark S&P CNX 500 over a period of one and three-year period. The fund has a much diversified portfolio.

In 2007, the fund's corpus grew by 265.8 per cent and the NAV grew by 35.9 per cent. This indicates net inflows in the fund.

Comparing the sector holdings of the fund in 2008to that of 2007 reveal many structural changes. Software, the top holding a year ago, has seen exposures pared to half. Even the Telecom services saw cut in exposure.

Although media, which had a good year and which was among the top sectors in the portfolio had seen exposures reduced to a fifth of earlier levels.

Sector such as construction, ferrous metals and banks which had seen a strong correction in the first few months of 2008, attracted the fund. The fund appeared bullish on these sectors with increase in exposure of 2-6 times.

The fund saw 37 stocks enter the portfolio and 25 find their way out.

Stock such as Glenmark Pharma, Welspun Gujarat, Lanco Infratech, Reliance Petroleum, Reliance Capital and Reliance Infrastructure which gained between 100 and 237 per cent between April 2007 and April 2008, made a fresh entry into the portfolio.

The fund also bought into United Spirits, Punj Lloyd, Tata Steel, Axis Bank, SBI and Godrej Industries which also gained between 50-98 per cent during the one-year period.

Hindustan Unilever, HCL Technologies and Mahindra & Mahindra were sold. Tech Mahindra, Sun Pharma, India Cements and HT Media failed to impress the fund so they had to see the exit route.

Reliance Industries, Infosys, Bharti Airtel, L&T, Aban Offshore and ICICI Bank were key stocks held during this period.



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