INR97b
INR8.2t
Equity AUM up in May
(+3.2% MoM)
Net inflows in equities
up in May (+69% MoM)
AUM rises for third consecutive
month (+4.6% in May’19)
INR25.9t
Deven Mistry – Research Analyst
(Deven@MotilalOswal.com); +91 22 6129 1575
Investors are advised to refer to important disclosures made at the last page of the Research Report
June 2019

SUMMARY:
MF industry AUM hits new record high; inching towards INR26t mark
Key observations
With positive momentum of the last two months intact, the domestic mutual funds (MF) industry created a new record in May’19 — total AUM hit
the INR25.9t (+4.6% MoM) mark, surpassing the previous high of INR25.2t in Aug’18. Notably, the MF industry’s AUM has surged a staggering 3.9x in
the past 10 years (INR6.6t in May’09).
The MoM increase can be primarily attributed to a rise in AUM of income/debt, equity and ETF-oriented schemes.
Equity AUM (including ELSS and Arbitrage) increased 3.2% MoM to INR8.2t in May, led by a rise in market indices (Nifty up 1.5% MoM). While equity
scheme sales were up 21% MoM to INR278b, redemptions increased marginally by 5% MoM to INR180b. Consequently, net inflows were up 69%
MoM to INR97b in May.
In wake of the on-going debt crisis, the MF industry faced immense redemption pressure in May’19, with MFs recording INR20b net outflow in close-
ended debt-oriented schemes.
Some interesting facts
The month saw a
notable change in sector and stock allocation of funds. Weight of Domestic Cyclicals’ increased 160bp to 10-month high of 62.9%,
as weight of Capital Goods, Financials (private & PSUs) and Cement increased while that of Autos moderated.
Defensives’ weight decreased 110bp to 26.8%. Global Cyclicals’ weight, too, shrank 40bp to 10.4%
(refer page 3 for detailed charts).
Private Banks — the top sector holding of MFs - saw its weightage
increase for the eighth successive month to climb to a new high
of
19.7% (+40bp MoM, +330bp YoY).
In terms of value increase MoM, seven of the top-10 stocks were
from Financials in May’19:
SBI (+INR43.3b), HDFC Bank (+INR39.9b),
ICICI Bank (+INR30.1b), HDFC (+INR27.6b), Axis Bank (+INR22.1b),
Kotak Mah. Bank (+INR16.9b) and Bajaj Finance (+INR12.4b).
L&T saw value increase of INR55b in May’19,
as the stock was up
15.6%. Notably, the stock saw net buying by 15 of the top-20 funds.
In terms of value decrease MoM, three of the top-10 stocks were
from Healthcare.
ITC (-INR21.7b), Infosys (-INR13.4b), Tata Motors (-
INR10.6b), Aurobindo Pharma (-INR10b) and Reliance Inds (-INR9.3b)
witnessed the maximum decline in value on an MoM basis.
Fund Folio: Indian Mutual Fund Tracker | June 2019
AUM touched a new high of INR25.9t; up for third successive month
29
23
17
11
5
Total AUM (INR t)
25.9
2

SUMMARY:
MF industry AUM hits new record high; inching towards INR26t mark
Key charts
Domestic Cyclicals’ weight up 1.6pp MoM in May’19...
Domestic cyclicals (%)
64.0
62.6
62.9
61.8
60.7
59.6
May-18
July-18
Sep-18
Nov-18
61.8 61.7
60.7 60.5
61.6 61.3
…led by Capital Goods, Financials (Private & PSU) and Cement
62.9
0.5
Chg pp (MoM)
0.4
0.4
0.3
0.2
0.0
0.0
0.0
-0.1
-0.4
Auto
Jan-19
Mar-19
May-19
Cap Banks
Goods PVT
NBFC
Banks Cement Real
PSU
Estate
Infra
Retail Media
Defensives' weight down 1.1pp MoM in May’19...
Defensives (%)
26.2
27.3 27.0
28.0
29.1
28.8
27.8 27.6
28.6
28.7
27.5 27.9
…led by Technology, Healthcare and Consumer
0.5
Chg pp (MoM)
26.8
-0.1
-0.3
Consumer
-0.5
Healthcare
-0.6
Technology
May-18
July-18
Sep-18
Nov-18
Jan-19
Mar-19
May-19
Telecom
Utilities
Global Cyclicals' weight down 0.4pp MoM in May’19...
Global cyclicals (%)
9.9
10.1 10.2 10.2
11.3
10.6 10.4 10.7 10.7 10.8 10.9 10.8
…led by both, Oil & Gas and Metals
Chg pp (MoM)
10.4
-0.2
May-18
July-18
Sep-18
Nov-18
Jan-19
Mar-19
May-19
-0.2
Oil & Gas
Metals
Fund Folio: Indian Mutual Fund Tracker | June 2019
3

Contents
AUM:
Growth momentum intact, up 4.6% in May.
Top-20 funds:
Equity value up 3.3% MoM and 20.1% YoY.
Sector-wise weightage:
MoM increase seen in Financials, Capital Goods, Telecom.
Sectoral allocation of funds:
Oil & Gas, NBFCs, Tech. and Consumer under-owned.
Nifty-50 snapshot:
MFs net buyers in 58% of the stocks.
Top schemes and NAV change:
72% of the top-25 schemes outperformed markets.
Value surprise:
Maximum MoM change in seen in L&T, SBI, Bharti Airtel and HDFC
Bank.
Funds snapshot:
Overview
About the product
Fund Folio
is a handbook on the
holdings of the top-20 domestic mutual
funds in India. This monthly report will
cover:
Trend in AUMs and flows
Sector allocation by funds
Stock-wise holding change
Top schemes and NAV change
Fund-wise snapshot on top holdings
Aditya Birla Sun Life
Axis
BNP Paribas
Canara Robeco
DSP
Franklin Templeton
HDFC
ICICI Prudential
IDFC
Invesco
Kotak Mahindra
L&T
Mirae Asset
Motilal Oswal
Principal
Reliance
SBI
Sundaram
Tata
UTI
Notes:
This report covers only the top-20 mutual
funds by exposure to equity
All aggregates pertain only to the funds
listed in this report
Sectors are as defined by MOSL Research
Source: AMFI, NAVIndia
Fund Folio: Indian Mutual Fund Tracker | June 2019
4

AUM:
Growth momentum intact, up 4.6% in May
The MF industry saw its total AUM rise for the third consecutive month in May’19 to INR25.9t (+4.6% or INR1.1t MoM), led by inflows in
income/debt-oriented and equity schemes.
Equity schemes (including ELSS and Arbitrage) saw net inflows increase to INR97b in May’19 v/s INR58b in Apr’19. The increase was led by higher
gross inflows at INR278b in May (+21% MoM), while redemptions were up 5% MoM at INR180b.
Trend in total AUM
29
23
17
11
5
Total AUM (INR t)
25.9
Monthly trend of sales, redemptions and net amount raised by mutual funds (towards equity)
600
450
300
150
0
-150
-300
-450
Inflows in Equity Incl. Arbi & ELSS (INR b)
Redemptions in Equity Incl. Arbi & ELSS (INR b)
Net Inflow/Outflow in Equity Incl. Arbi & ELSS (INR b)
278
97
-180
Fund Folio: Indian Mutual Fund Tracker | June 2019
5

Top-20 funds:
Equity value up 3.3% MoM and 20.1% YoY
Total equity value of the top-20 AMCs increased 3.3% MoM (+20.1% YoY) in May’19, as against the Nifty’s rise of 1.5% MoM (+11.1% YoY).
Among the top-10 funds, the highest MoM increase was seen in Axis Mutual Fund (+7.4%), Kotak Mahindra Mutual Fund (+4.8%), ICICI Prudential
Mutual Fund (+4.4%), HDFC Mutual Fund (+3.6%) and SBI Mutual Fund (+3.4%).
Trend of top-20 mutual funds by equity value
Value (INR b)
May-19
1,627
1,520
1,327
1,055
874
699
585
510
480
379
378
257
220
218
196
182
98
93
58
41
10,797
11,923
MoM Change (%)
12M Chg
Jun-18 July-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 (INRb) (%)
0.6
7.2
5.0
-5.7
-0.4
6.1
2.9
0.6
1.7
11.4
1.1
3.4
450
38.3
-3.3
6.1
4.6
-8.3
1.8
2.0
2.4
-0.8
-1.4
10.4
-1.4
3.6
203
15.4
4.8
-1.1
2.1
-6.1
3.5
-0.9
3.1
-1.3
5.0
2.1
-1.5
4.4
167
14.4
-2.7
6.1
5.7
-8.7
1.3
3.0
12.5
-5.3
-3.0
17.5
-5.1
0.0
175
19.9
-1.5
5.3
3.0
-12.9
0.2
5.2
2.7
-2.5
0.2
8.1
-1.3
3.2
67
8.3
-0.2
6.4
3.6
-8.1
-1.8
4.5
1.4
0.2
0.7
8.5
-0.3
2.4
104
17.5
-1.4
7.3
9.0
-8.5
-0.4
5.3
3.6
-0.2
3.4
8.2
-0.6
4.8
147
33.5
-3.0
2.9
2.7
-8.3
-1.1
2.3
1.4
-0.6
-1.2
6.6
-1.7
1.8
6
1.3
0.7
9.3
6.4
-8.7
-1.0
6.8
4.8
-1.9
6.1
6.4
3.1
7.4
150
45.6
-4.5
5.0
2.1
-11.0
-3.1
4.5
0.3
-3.0
0.6
8.6
-1.6
1.3
-9
-2.3
-1.0
7.0
4.5
-8.6
0.0
4.5
0.5
-3.3
-1.5
9.0
-1.0
2.5
41
12.1
-0.1
10.4
6.9
-3.8
3.0
5.2
3.1
2.3
1.8
12.2
3.9
10.3
106
69.9
-0.1
11.0
7.9
-8.9
-3.9
11.8
6.1
-3.0
5.0
9.8
0.3
0.6
63
40.2
0.3
5.3
2.8
-8.9
-0.4
3.9
2.0
-3.2
-0.1
8.6
0.5
5.2
30
15.9
-3.0
3.0
4.3
-11.2
-3.2
4.8
4.9
-1.7
0.1
10.9
-1.9
3.0
16
8.7
-1.5
5.8
2.2
-7.9
-4.2
7.8
-0.5
-3.1
0.0
6.3
-0.7
0.5
6
3.5
-2.3
10.5
3.5
-8.2
0.3
6.8
0.5
2.2
2.1
10.9
3.6
5.4
28
39.6
5.7
14.9
7.6
-2.8
6.1
7.2
6.8
1.5
0.7
12.9
1.4
5.8
44
91.1
-2.1
7.0
5.2
-6.4
2.4
5.2
1.7
-2.1
0.1
9.7
-0.7
4.2
12
25.8
-5.1
6.1
3.1
-10.5
4.6
6.6
-0.4
-5.7
-2.6
7.9
-2.2
4.5
2
4.5
-0.7
5.4
4.3
-8.2
0.3
3.8
3.5
-1.5
0.9
9.2
-0.9
3.3
1,808 20.1
-0.2
6.0
2.9
-6.4
-5.0
4.7
-0.1
-0.3
-0.4
7.7
1.1
1.5
11.1
Cash
Holding (%)
6.4
4.6
10.5
3.4
2.7
2.7
4.5
6.6
6.5
5.1
5.1
2.8
5.8
3.8
3.0
3.2
3.3
4.6
3.3
3.1
4.6
SBI Mutual Fund
HDFC Mutual Fund
ICICI Prudential Mutual Fund
Reliance Mutual Fund
Aditya Birla Sun Life Mutual Fund
UTI Mutual Fund
Kotak Mahindra Mutual Fund
Franklin Templeton Mutual Fund
AXIS Mutual Fund
DSP Mutual Fund
L&T Mutual Fund
Mirae Asset Mutual Fund
Tata Mutual Fund
IDFC Mutual Fund
Sundaram Mutual Fund
Motilal Oswal Mutual Fund
Canara Robeco Mutual Fund
Invesco Mutual Fund
PRINCIPAL Mutual Fund
BNP Paribas Mutual Fund
Total of above
Nifty
Note:
Equity value represents equity exposure for all mutual fund schemes (including balanced and other schemes).
Cash is derived by deducting equity AUM from total AUM; Only equity growth schemes have been considered for cash.
Fund Folio: Indian Mutual Fund Tracker | June 2019
6

Sector-wise weight:
MoM increase seen in Financials, Capital Goods, Telecom and Cement
In May’19, MFs showed interest in Capital Goods, Telecom, Financials (Private & PSU), Cement and Chemicals, with these sectors witnessing MoM
increase in weight. Technology, Healthcare, Autos, Consumer, Metals, Oil & Gas, Utilities and Media saw a MoM decrease in weight.
Private Banks (19.7%) was the top sector holding in May’19, followed by NBFCs (9.1%), Technology (8.5%) and Capital Goods (8%).
Only Media, Healthcare, Metals, Technology, Autos and Consumer saw a decrease in value MoM.
Sector value change MoM (%):
Media, Healthcare
and Metals saw maximum decline MoM
Telecom
Real Estate
Banks Public
Capital Goods
0.5
Sector allocation (%):
Cap Goods, Telecom, Pvt.
Banks see highest rise MoM
Banks Private
NBFC
Technology
Capital Goods
Oil & Gas
Consumer
Auto
Healthcare
Banks Public
Utilities
Chemicals
Cement
Metals
Telecom
Retail
Textiles
Infrastructure
Media
Real Estate
9.1
8.5
8.0
7.7
7.4
6.0
5.3
4.9
3.9
3.0
2.9
2.6
1.7
1.4
0.8
0.8
0.7
0.5
-
0.5
0.1
0.2
0.3
MFs v/s BSE-200 weight (%):
Consumer u/w and
Capital Goods o/w
Banks Private
NBFC
Technology
Consumer
Oil & Gas
Auto
Capital Goods
Healthcare
Banks Public
Utilities
Metals
Cement
Telecom
Retail
Chemicals
Infrastructure
Real Estate
Media
Textiles
BSE 200 Weight (%)
MF Weight (%)
21.3
19.7
12.5
May Weight (%)
19.7
MoM Chg (pp)
0.4
0.4
43.3
13.0
10.8
10.6
9.7
8.0
6.3
5.7
5.3
4.3
3.3
0.5
0.1
-0.6
-2.4
-3.5
-4.7
-5.9
-6.0
Cement
NBFC
Infrastructure
Banks Private
Chemicals
Textiles
Retail
Oil & Gas
Utilities
Consumer
Auto
Technology
Metals
Healthcare
Media
-
-
-
9.1
11.4
8.5
11.2
7.4
10.5
7.7
6.6
6.0
4.5
8.0
4.2
5.3
2.8
4.9
2.7
3.9
2.5
2.6
2.4
2.9
1.5
1.7
1.2
1.4
1.2
3.0
0.6
0.8
0.4
0.5
0.4
0.7
0.3
0.8
Fund Folio: Indian Mutual Fund Tracker | June 2019
7

Sectoral allocation of funds:
Oil & Gas, NBFCs, Technology and Consumer under-owned
Top sectors where ownership of mutual funds vis-à-vis BSE-200 is at least 1% lower: Oil & Gas (19 funds under-owned), NBFCs (16 funds under-
owned), Technology (16 funds under-owned), Consumer (15 funds under-owned) and Private Banks (8 funds under-owned).
Top sectors where ownership of mutual funds vis-à-vis BSE-200 is at least 1% higher: Capital Goods (18 funds over-owned), Healthcare (10 funds
over-owned), Cement (10 funds over-owned), PSU Banks (8 funds over-owned) and Retail (8 funds over-owned).
Sector-wise allocation of funds v/s BSE-200 (%)
Sector
Auto
Banks PVT
Banks PSU
Cap Goods
Cement
Chemicals
Consumer
Healthcare
Infra
Media
Metals
NBFC
Oil & Gas
Real Estate
Retail
Technology
Telecom
Textiles
Utilities
Aditya
BNP
Canara
BSE200 Birla Sun Axis
Paribas Robeco
Life
6.6
4.9
7.5
4.2
6.2
21.3
2.8
4.5
2.4
1.2
11.2
4.2
0.6
0.4
2.5
12.5
10.5
0.4
1.2
11.4
1.5
0.3
2.7
21.5
3.6
7.9
4.2
3.6
10.3
6.7
1.0
1.7
2.9
10.1
6.2
0.3
1.4
6.7
0.7
0.6
2.1
0.0
0.2
23.2
2.5
0.2
5.1
12.0
0.2
0.4
1.7
21.8
0.0
5.2
1.7
5.2
7.7
2.2
22.2
2.4
6.8
5.0
2.8
10.4
1.9
1.2
3.7
2.3
12.4
7.1
0.2
3.2
5.8
1.8
0.5
1.4
24.3
4.2
13.7
4.8
4.1
7.4
4.7
0.4
0.5
0.9
3.9
7.3
0.4
1.5
7.1
1.3
0.2
2.0
DSP
5.9
21.2
1.8
8.1
4.6
5.5
7.5
8.3
1.0
0.4
3.0
8.1
4.3
1.4
1.3
4.7
0.5
3.8
1.9
Kotak
Franklin
ICICI
IDFC Invesco
L&T
HDFC
Mahindra
Templeton
Pru
7.8
21.6
3.1
5.8
6.1
4.0
4.8
4.9
0.8
0.9
2.0
4.0
7.8
1.7
1.2
7.6
5.9
1.1
3.3
3.3
10.1
10.6
0.8
5.0
3.9
4.4
1.4
0.5
3.0
6.8
8.9
0.4
0.6
10.5
0.3
0.3
7.4
6.6
6.0
1.5
1.4
8.1
6.0
0.8
0.9
5.8
7.0
8.8
0.3
1.0
9.5
5.0
0.1
8.9
6.1
2.9
4.7
3.4
7.9
5.4
1.9
0.5
2.3
6.7
5.4
0.7
4.2
5.0
0.6
1.5
1.6
7.0
23.9
1.8
6.4
1.7
1.4
5.5
7.5
1.5
1.1
2.6
9.7
8.9
0.1
2.8
10.2
1.9
0.0
1.2
4.8
27.9
4.1
6.8
6.0
2.3
7.1
3.6
0.5
0.3
2.1
9.0
11.0
0.4
0.5
5.7
0.2
1.9
0.9
2.9
16.5
4.2
11.4
7.5
3.5
5.1
5.6
1.0
0.6
1.7
5.6
6.2
2.6
3.9
8.9
1.7
1.9
0.0
2.1
9.1
0.4
2.5
2.7
1.2
3.3
8.5
7.8
0.0
0.0
19.4
7.3
0.0
2.5
11.9
0.0
0.8
0.0
16.7 13.7 19.3
5.5 10.8
Mirae
7.1
21.5
3.5
7.7
1.0
1.3
8.0
10.2
Motilal
Principal Reliance SBI Sundaram TATA UTI
Oswal
8.6
23.0
0.0
7.6
0.2
0.5
6.6
5.6
4.0
18.8
3.9
5.9
6.1
5.7
11.6
4.7
1.0
0.9
2.8
7.6
6.1
0.4
0.3
9.1
1.0
1.6
3.8
6.4
17.7
8.4
12.8
2.5
1.8
4.6
6.3
1.0
0.5
3.5
6.1
9.0
0.6
1.3
3.7
1.1
0.8
5.6
6.4
23.4
4.0
6.3
2.7
2.3
9.5
3.9
0.3
0.2
1.5
11.6
8.7
0.2
0.4
9.6
2.0
0.5
2.2
7.4
13.9
1.4
11.4
5.9
4.3
11.3
4.4
1.8
1.4
0.8
9.3
2.8
0.3
4.6
5.6
0.6
0.8
0.6
7.4
2.7
8.1
2.7
1.8
14.4
3.9
1.1
1.7
0.1
6.7
0.5
2.4
8.2
0.1
0.1
1.7
9.0
2.2
5.2
2.5
2.6
9.5
6.1
0.5
0.5
1.9
6.6
0.5
1.4
13.0
1.3
0.8
2.3
20.7 20.0
10.9 10.1
Note:
Green box
indicates over-ownership by +1% and
orange
box indicates under-ownership by -1% of a sector vis-a-vis BSE200 weight.
Fund Folio: Indian Mutual Fund Tracker | June 2019
8

Nifty-50 snapshot:
MFs net buyers in 58% of stocks
Highest net buying in May’19 on MoM basis was witnessed in Bharti Airtel (+24.3%), UltraTech (+12.9%), Eicher (+8.9%), Hero Moto (+8.4%) and Asian Paints (+7.3%).
Company
Bharti Airtel
UltraTech Cement
Eicher Motors
Hero MotoCorp
Asian Paints
Grasim Inds
Tata Steel
Sun Pharma
IndusInd Bank
Adani Ports & SEZ
HCL Tech.
JSW Steel
Maruti Suzuki
GAIL
Hindalco
Reliance Inds.
Axis Bank
L&T
Britannia Inds
TCS
ICICI Bank
Zee Entertainmen
HDFC
HUL
HDFC Bank
BPCL
Cipla
NTPC
ITC
Tech Mahindra
Number of Funds
Value May- Value Chg Shares May- Shares Chg
Having Exposure
19 (INR B) MoM (%)
MoM (%)
19 (M)
>2%
<2%
146.9
47.0
22.9
36.7
58.9
47.0
84.5
97.4
72.7
16.0
69.5
13.0
111.8
71.9
59.8
360.1
320.1
368.1
34.8
199.5
574.4
22.2
283.1
76.2
712.2
74.1
51.4
201.8
283.3
57.6
40.5
16.4
6.7
15.7
3.2
4.9
-7.1
-5.5
5.0
11.4
-3.5
-8.9
6.3
3.9
-2.2
-2.5
7.4
17.6
2.6
-1.3
5.5
-16.2
10.8
3.0
5.9
9.1
-0.2
0.0
-7.1
-9.4
421.1
9.9
1.1
13.7
41.9
53.1
173.0
237.7
45.3
38.5
63.6
48.0
16.3
199.1
303.6
270.7
396.0
236.3
11.9
90.8
1,355.7
62.0
129.7
42.6
293.6
181.0
91.9
1,514.4
1,017.0
75.8
24.3
12.9
8.9
8.4
7.3
6.7
6.0
5.5
5.1
5.1
4.5
3.4
3.1
2.5
2.3
2.1
1.9
1.8
1.7
1.6
1.5
1.4
1.3
1.3
1.2
1.2
0.9
0.6
0.5
-0.4
2
1
18
20
17
19
20
19
19
18
18
18
18
19
17
19
18
6
4
3
19
10
1
18
12
19
17
18
16
10
20
Company
Yes Bank
Infosys
Power Grid
Bajaj Finance
SBI
IOC
Kotak Mah. Bank
Indiabulls Hsg Fin
M&M
Bajaj Finserv
Vedanta
Tata Motors
Titan Company
Coal India
ONGC
Bharti Infratel
Dr Reddys Labs.
Bajaj Auto
Wipro
UPL
Number of Funds
Value May- Value Chg Shares May- Shares Chg
Having Exposure
MoM (%)
19 (INR B) MoM (%)
19 (M)
>2%
<2%
27.2
-12.9
183.9
-1.1
19
409.9
-3.2
555.6
-1.4
17
3
61.4
0.1
324.6
-1.4
20
133.7
10.2
38.6
-1.6
4
16
413.3
11.7
1,172.4
-1.8
12
8
91.2
2.9
550.9
-1.8
2
16
235.4
7.7
154.7
-1.8
11
9
8.1
10.8
10.3
-2.1
17
74.6
-1.8
115.3
-2.1
20
43.0
6.4
5.3
-2.3
19
64.4
-6.1
401.4
-2.4
1
18
37.9
-21.9
219.4
-3.0
19
52.1
2.4
42.1
-4.0
1
19
73.6
-4.1
290.5
-4.6
1
16
81.7
-4.1
475.3
-5.7
2
16
4.4
-4.9
16.2
-7.1
18
35.8
-15.3
13.4
-7.2
20
17.4
-11.1
6.0
-9.3
18
20.7
-15.0
72.3
-11.4
17
31.4
-11.8
31.4
-14.4
19
1
1
3
1
14
16
17
1
10
19
8
1
20
1
3
10
MFs’ weight in Nifty (%)
OW/UW to Nifty(pp)
29.9
11.7 10.5
3.6
3.6
1.7
2.3
0.9
0.6
0.6
MFs Weight in Nifty (%)
7.2 7.0 6.4 5.7
5.2 4.6 3.4 2.8 2.3
1.4 0.8 0.5 0.3 0.2
Fund Folio: Indian Mutual Fund Tracker | June 2019
9

Top schemes and NAV change:
72% of top-25 schemes outperform markets
Among the top-25 schemes by AUM, those registering the highest rise were:
Axis Long Term Equity Fund (+3.8% MoM change in NAV), Franklin
India Focused Equity Fund (+3.8% MoM change in NAV), Axis Focused 25 Fund (+3.7% MoM change in NAV), Reliance Multi Cap Fund (+3.4% MoM
change in NAV) and SBI BlueChip Fund (+3.4% MoM change in NAV).
Total AUM (INR B)
255
232
228
228
222
220
198
175
164
136
132
131
115
113
109
107
95
89
87
84
84
84
80
76
76
Equity AUM (INR B)
242
231
210
211
200
216
196
173
136
132
131
126
109
110
106
105
93
86
76
79
82
74
79
76
72
MoM NAV Chg (%)
3.3
3.3
1.5
3.4
1.5
1.5
3.8
2.5
0.2
3.3
2.6
1.6
-0.3
1.2
1.4
3.4
0.5
0.4
3.8
3.3
3.0
2.4
3.7
2.3
3.2
12M NAV Chg (%)
11.4
13.7
-3.2
5.9
7.2
5.8
5.0
15.5
2.0
0.5
13.6
11.4
3.0
3.8
-0.4
11.8
3.6
0.6
12.6
-6.5
1.0
-4.4
3.1
10.2
6.7
Top schemes by AUM
Scheme Name
Kotak Standard Multicap Fund (G)
HDFC Equity Fund - (G)
HDFC Mid-Cap Opportunities Fund (G)
SBI BlueChip Fund (G)
ICICI Pru Bluechip Fund (G)
Aditya Birla SL Frontline Equity Fund (G)
AXIS Long Term Equity Fund (G)
HDFC Top 100 Fund (G)
ICICI Pru Value Discovery Fund (G)
Motilal Oswal Multicap 35 Fund (G)
Reliance Large Cap Fund (G)
Mirae Asset Large Cap Fund (G)
Franklin India Equity Fund - (G)
Aditya Birla SL Equity Fund (G)
Reliance Tax Saver (ELSS) Fund - (G)
Reliance Multi Cap Fund (G)
UTI-Equity Fund (G)
Aditya Birla SL Tax Relief '96 (G)
Franklin India Focused Equity Fund (G)
Reliance Small Cap Fund (G)
L&T India Value Fund (G)
HDFC Small Cap Fund (G)
AXIS Focused 25 Fund (G)
Mirae Asset Emerging Bluechip Fund (G)
SBI Magnum Multicap Fund (G)
Note:
Equity growth schemes considered for this comparison
Fund Folio: Indian Mutual Fund Tracker | June 2019
10

Value surprise:
Maximum MoM change in L&T, SBI, Bharti Airtel, HDFC Bank and ICICI Bank
In May’19, seven of the top-10 stocks that saw maximum change in value were from Financials. L&T, SBI, Bharti Airtel, HDFC Bank and ICICI Bank saw
the maximum value change MoM.
Stocks that saw maximum decline in value were ITC, Infosys, Tata Motors, Aurobindo Pharma and Reliance Industries.
Value
May-19 (INR B)
368.1
413.3
146.9
712.2
574.4
283.1
320.1
235.4
133.7
49.2
Value Chg
MoM (INR B)
55.0
43.3
42.3
39.9
30.1
27.6
22.1
16.9
12.4
10.9
Value Chg
MoM (%)
17.6
11.7
40.5
5.9
5.5
10.8
7.4
7.7
10.2
28.4
Shares
May-19 (M)
236.3
1,172.4
421.1
293.6
1,355.7
129.7
396.0
154.7
38.6
440.9
Shares Chg
MoM (M)
4.2
-21.1
82.3
3.6
20.0
1.7
7.4
-2.9
-0.6
0.9
Shares Chg
MoM (%)
1.8
-1.8
24.3
1.2
1.5
1.3
1.9
-1.8
-1.6
0.2
Price Chg
MoM (%)
15.6
13.7
8.8
4.7
3.8
9.4
5.4
9.6
12.1
28.1
Top-10 stocks by change in value
Company
L&T
SBI
Bharti Airtel
HDFC Bank
ICICI Bank
HDFC
Axis Bank
Kotak Mah. Bank
Bajaj Finance
Bharat Electronics
% AUM
3.4
3.8
1.4
6.6
5.3
2.6
3.0
2.2
1.2
0.5
Bottom-10 stocks by change in value
Company
ITC
Infosys
Tata Motors
Aurobindo Pharma
Reliance Inds
Tata Steel
Dr Reddys Labs
Tech Mahindra
Sun Pharma
Havells India
Value
May-19 (INR B)
283.3
409.9
37.9
49.4
360.1
84.5
35.8
57.6
97.4
11.8
Value Chg
MoM (INR B)
-21.7
-13.4
-10.6
-10.0
-9.3
-6.5
-6.4
-6.0
-5.7
-5.6
Value Chg
MoM (%)
-7.1
-3.2
-21.9
-16.8
-2.5
-7.1
-15.3
-9.4
-5.5
-32.2
Shares
May-19 (M)
1,017.0
555.6
219.4
73.5
270.7
173.0
13.4
75.8
237.7
15.8
Shares Chg
MoM (M)
4.9
-7.8
-6.8
1.0
5.5
9.7
-1.0
-0.3
12.5
-6.7
Shares Chg
MoM (%)
0.5
-1.4
-3.0
1.4
2.1
6.0
-7.2
-0.4
5.5
-29.8
Price Chg
MoM (%)
-7.6
-1.7
-19.5
-17.8
-4.5
-12.3
-8.7
-8.9
-10.4
-3.4
% AUM
2.6
3.8
0.4
0.5
3.3
0.8
0.3
0.5
0.9
0.1
Fund Folio: Indian Mutual Fund Tracker | June 2019
11

SBI
HDFC
ICICI Prudential
Reliance
Aditya Birla Sun Life
UTI
Kotak Mahindra
Franklin Templeton
Axis
DSP
L&T
Mirae Asset
Tata
IDFC
Sundaram
Motilal Oswal
Canara Robeco
Invesco
Principal
BNP Paribas
Fund Folio: Indian Mutual Fund Tracker | June 2019
IN ORDER OF EQUITY AUM, CLICK ON THE FUND NAME FOR DETAILS
FUNDS
SNAPSHOT
12

SBI:
Equity AUM INR1627b
Top company holdings (%)
May-19
HDFC Bank
RIL
ICICI Bank
HDFC
Infosys
Kotak M Bank
SBI
ITC
L&T
Axis Bank
Chg MoM (pp)
9.8
0.3
-0.4
5.9
0.2
0.5
-0.3
0.4
0.5
-0.4
0.5
0.1
HDFC:
Equity AUM INR1520b
Top company holdings (%)
May-19
ICICI Bank
SBI
Infosys
L&T
HDFC Bank
RIL
NTPC
ITC
Axis Bank
HDFC
3.2
2.8
2.4
1.9
Chg MoM (pp)
7.3
6.6
6.0
5.7
4.6
4.3
-0.1
0.4
-0.4
0.6
-0.1
-0.3
-0.1
-0.3
0.1
0.1
Banks Pvt
Cap Goods
Technology
Banks PSU
Oil & Gas
Utilities
NBFC
Chemicals
Healthcare
Consumer
23.4
1.0
0.4
-0.8
-0.5
-0.4
-0.2
0.3
0.5
-0.7
0.2
Weight (%)
Chg MoM (pp)
11.6
9.6
9.5
8.7
6.4
6.3
4.0
3.9
2.7
Weight (%)
Back to
Snapshot
Top sector allocation (%)
Banks Pvt
NBFC
Technology
Consumer
Oil & Gas
Auto
Cap Goods
Banks PSU
Healthcare
Cement
Top sector allocation (%)
Chg MoM (pp)
10.6
10.5
10.1
8.9
7.4
6.8
4.5
4.4
3.9
16.7
0.0
0.8
-0.5
0.5
0.0
-0.3
0.2
0.1
-0.3
-0.3
4.9
4.7
4.5
4.0
3.9
3.8
3.3
3.2
Top change by market value
Company
HDFC Bank
SBI
HDFC
L&T
Kotak M Bank
Bharti Airtel
ICICI Bank
Axis Bank
Hero MotoCorp
Bajaj Finance
Mkt Value Shares Chg
Chg (INR b)
('000)
10.31
1,388
10.02
7,803
9.64
1,541
9.31
1,569
7.91
1,502
7.30
16,103
5.00
4,799
3.76
1,441
3.35
936
3.22
77
Top change in weight (%)
Company
SBI
L&T
HDFC
Bharti Airtel
Kotak M Bank
HDFC Bank
Hero MotoCorp
ICICI Bank
Bajaj Finance
Axis Bank
Chg MoM Current
(pp)
Weight
0.51
3.87
0.48
3.29
0.45
4.70
0.41
1.61
0.37
4.03
0.32
9.78
0.18
0.98
0.15
4.91
0.15
1.71
0.13
3.18
Top change by market value
Company
L&T
SBI
BPCL
BOB
ICICI Bank
PFC
HDFC
Axis Bank
BHEL
DCB Bank
Mkt Value Shares Chg
Chg (INR b)
('000)
11.58
31
9.64
-8,043
4.82
7,850
3.65
9,415
2.72
-3,718
2.61
7,030
2.29
-89
2.10
268
2.10
30,077
2.03
8,619
Top change in weight (%)
Company
L&T
SBI
BPCL
BOB
BHEL
DCB Bank
PFC
Federal Bank
Interglobe Avi.
HDFC
Chg MoM Current
Weight
(pp)
0.59
5.66
0.42
6.61
0.27
1.68
0.20
1.35
0.13
0.23
0.13
0.14
0.12
1.69
0.11
0.44
0.10
0.12
0.09
1.89
Top scheme by NAV change
Scheme Name
SBI Focused Equity Fund (G)
SBI BlueChip Fund (G)
SBI Magnum Multicap Fund (G)
SBI Magnum Equity ESG Fund (G)
SBI Small Cap Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
46.3
39.2
3.5
227.5
210.9
3.4
75.8
72.4
3.2
23.9
23.3
2.5
21.9
19.7
2.4
Top scheme by NAV change
Scheme Name
HDFC Infrastructure Fund (G)
HDFC Housing Opportunities Fund - Sr.1 (G)
HDFC Equity Fund - (G)
HDFC Top 100 Fund (G)
HDFC Small Cap Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
8.7
8.5
6.2
33.6
28.1
4.4
232.3
231.3
3.3
174.8
173.4
2.5
84.0
74.5
2.4
Fund Folio: Indian Mutual Fund Tracker | June 2019
13

ICICI Prudential:
Equity AUM INR1327b
Top company holdings (%)
May-19
NTPC
Infosys
SBI
ICICI Bank
ITC
Bharti Airtel
HDFC Bank
L&T
Axis Bank
ONGC
2.9
2.8
Chg MoM (pp)
6.0
-0.1
-0.1
5.2
5.0
4.7
4.5
4.4
3.8
3.8
0.1
0.0
-0.6
1.0
0.5
0.4
0.0
-0.3
Reliance:
Equity AUM INR1055b
Top company holdings (%)
May-19
SBI
HDFC Bank
ICICI Bank
Axis Bank
L&T
IOCL
Infosys
NTPC
ITC
Coal India
2.3
2.3
2.3
2.2
2.7
3.4
3.2
Chg MoM (pp)
5.9
0.5
5.7
5.3
0.1
0.6
0.0
0.3
-0.1
-0.4
-0.4
-0.1
-0.3
Chg MoM (pp)
Weight (%)
Banks Pvt
Cap Goods
Oil & Gas
Banks PSU
Auto
Healthcare
NBFC
Utilities
Consumer
Technology
9.0
8.4
6.4
6.3
6.1
5.6
4.6
3.7
Back to
Snapshot
Top sector allocation (%)
Weight (%)
Banks Pvt
Technology
Utilities
Oil & Gas
Consumer
NBFC
Auto
Banks PSU
Healthcare
Metals
13.7
0.4
-0.3
9.5
-0.3
8.9
-0.4
8.8
-0.4
8.1
0.6
7.0
-0.4
6.6
0.2
6.0
-0.6
6.0
-0.4
5.8
Top sector allocation (%)
Chg MoM (pp)
17.7
0.8
0.8
12.8
-0.7
0.7
-0.2
-0.4
-0.2
-0.6
0.1
-0.4
Top change by market value
Company
Bharti Airtel
HDFC Bank
L&T
SBI
ICICI Bank
HDFC Life
HDFC
Axis Bank
Infosys
Asian Paints
Mkt Value Shares Chg
Chg (INR b)
('000)
15.42
20,888
9.11
2,956
7.44
502
4.00
-12,948
3.21
2,062
3.01
6,793
2.76
-63
2.03
116
2.03
4,382
1.99
1,686
Top change in weight (%)
Company
Bharti Airtel
HDFC Bank
L&T
HDFC Life
Asian Paints
HDFC
United Breweries
Tata Chemicals
SBI
Bajaj Finance
Chg MoM Current
(pp)
Weight
1.02
4.38
0.55
3.82
0.42
3.79
0.23
0.24
0.12
0.90
0.11
2.54
0.10
0.23
0.09
0.57
0.09
5.01
0.08
0.25
Top change by market value
Company
ICICI Bank
SBI
L&T
Bharti Airtel
Tata Global Bev
HDFC Life
BOB
IndusInd Bank
BEL
Honeywell Autom.
Mkt Value Shares Chg
Chg (INR b)
('000)
6.21
9,970
5.48
-6,731
3.59
-706
2.54
5,519
2.05
7,169
1.93
3,841
1.89
-2,809
1.29
804
1.17
-6,943
1.07
0
Top change in weight (%)
Company
ICICI Bank
SBI
L&T
Bharti Airtel
Tata Global Bev
HDFC Life
BOB
IndusInd Bank
BEL
Honeywell Autom.
Chg MoM Current
(pp)
Weight
0.59
5.33
0.52
5.94
0.34
3.20
0.24
0.90
0.19
0.37
0.18
0.43
0.18
1.69
0.12
0.61
0.11
0.77
0.10
1.56
Top scheme by NAV change
Scheme Name
ICICI Pru Banking & Financial Services (G)
ICICI Pru Infrastructure Fund - (G)
ICICI Pru MidCap Fund (G)
ICICI Pru Large & Mid Cap Fund - (G)
ICICI Pru Long Term Equity Fund - (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
33.0
30.3
6.0
12.9
12.4
5.3
17.7
16.7
2.5
31.5
30.1
2.5
64.2
60.1
1.8
Top scheme by NAV change
Scheme Name
Reliance Banking Fund - (G)
Reliance Power & Infra Fund (G)
Reliance Multi Cap Fund (G)
Reliance Small Cap Fund (G)
Reliance Value Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
32.0
28.8
7.0
14.9
14.4
6.2
106.9
105.4
3.4
84.4
79.3
3.3
32.9
31.5
3.1
Fund Folio: Indian Mutual Fund Tracker | June 2019
14

Aditya Birla Sun Life:
Equity AUM INR874b
Top company holdings (%)
May-19
HDFC Bank
ICICI Bank
RIL
SBI
Infosys
HDFC
ITC
Kotak M Bank
L&T
Axis Bank
3.7
3.2
2.9
2.8
2.7
2.4
2.1
1.7
Chg MoM (pp)
7.3
6.0
0.1
0.0
0.3
0.3
-0.3
0.2
-0.3
0.1
0.3
0.1
Banks Pvt
Consumer
NBFC
Cap Goods
Healthcare
Technology
Oil & Gas
Auto
Cement
Banks PSU
UTI:
Equity AUM INR699b
Top company holdings (%)
May-19
HDFC Bank
Infosys
ICICI Bank
HDFC
ITC
RIL
TCS
Axis Bank
L&T
Kotak M Bank
Chg MoM (pp)
6.7
0.2
4.9
4.7
4.0
3.5
3.5
3.3
2.6
2.4
2.3
-0.2
0.1
0.4
-0.3
-0.1
-0.1
0.1
0.3
0.2
Banks Pvt
Technology
NBFC
Consumer
Auto
Oil & Gas
Healthcare
Cap Goods
Cement
Chemicals
Weight (%)
Back to
Snapshot
Top sector allocation (%)
Weight (%)
Chg MoM (pp)
21.5
0.6
-0.4
10.3
10.1
7.9
6.7
6.7
6.2
4.9
4.2
3.6
0.0
0.6
-0.2
-0.7
0.4
-0.3
0.3
0.4
Top sector allocation (%)
Chg MoM (pp)
20.0
0.7
-0.6
13.0
0.6
10.1
-0.2
9.5
-0.4
9.2
-0.1
6.6
-0.6
6.1
0.4
5.2
0.1
2.5
2.5
-0.1
Top change by market value
Company
RIL
SBI
Sun Pharma
IndusInd Bank
L&T
HDFC Bank
HDFC
ICICI Bank
Bharti Airtel
BEL
Mkt Value Shares Chg
Chg (INR b)
('000)
3.44
3,565
3.34
-163
3.09
8,436
3.02
1,887
2.97
372
2.76
-40
2.22
66
2.01
-20
2.01
5,103
1.89
1,700
Top change in weight (%)
Company
Sun Pharma
IndusInd Bank
SBI
RIL
L&T
Bharti Airtel
BEL
HDFC
Century Textiles
Axis Bank
Chg MoM Current
(pp)
Weight
0.34
0.76
0.31
1.46
0.29
3.22
0.29
3.71
0.28
2.11
0.22
0.52
0.19
0.91
0.17
2.78
0.16
0.83
0.13
1.66
Top change by market value
Company
HDFC
HDFC Bank
L&T
Bharti Airtel
SBI
Kotak M Bank
Axis Bank
ICICI Bank
Bajaj Finance
Shree Cement
Mkt Value Shares Chg
Chg (INR b)
('000)
3.13
356
2.81
309
2.48
180
2.47
5,572
1.93
951
1.65
172
1.39
599
1.36
246
1.10
-129
0.97
14
Top change in weight (%)
Company
HDFC
Bharti Airtel
L&T
HDFC Bank
SBI
Kotak M Bank
Axis Bank
Shree Cement
Bajaj Finance
RBL Bank
Chg MoM Current
(pp)
Weight
0.36
4.04
0.33
1.20
0.31
2.38
0.25
6.72
0.24
1.93
0.19
2.27
0.14
2.60
0.11
1.16
0.11
2.00
0.11
0.15
Top scheme by NAV change
Scheme Name
Aditya Birla SL Infrastructure Fund - (G)
Aditya Birla SL Banking&Financial Services (G)
Aditya Birla SL Small Cap Fund (G)
Aditya Birla SL Equity Advantage Fund (G)
Aditya Birla SL Pure Value Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
6.1
6.0
5.9
18.6
18.5
5.7
24.9
23.7
2.7
54.2
52.2
2.7
45.6
45.1
2.6
Top scheme by NAV change
Scheme Name
UTI-Infrastructure Fund (G)
UTI-Banking and Financial Services Fund (G)
UTI-Mid Cap Fund (G)
UTI-Master Equity Plan Unit Scheme
UTI-Long Term Equity Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
14.0
13.8
6.6
6.8
6.7
5.6
37.9
36.4
2.9
18.7
18.6
2.2
12.1
11.7
1.8
Fund Folio: Indian Mutual Fund Tracker | June 2019
15

Kotak Mahindra
:
Equity AUM INR585b
Top company holdings (%)
May-19
HDFC Bank
ICICI Bank
RIL
Axis Bank
Kotak M Bank
SBI
L&T
Infosys
TCS
ITC
3.3
3.3
3.0
2.5
2.4
1.9
Chg MoM (pp)
9.2
0.5
6.4
0.1
6.1
4.9
-0.9
0.3
0.3
0.5
0.5
-0.7
-0.2
0.0
Franklin:
Equity AUM INR510b
Top company holdings (%)
May-19
HDFC Bank
ICICI Bank
Axis Bank
Bharti Airtel
Infosys
SBI
Kotak M Bank
Vodafone Idea
IOCL
NTPC
Chg MoM (pp)
7.1
-0.3
0.0
4.7
4.6
3.9
3.7
2.9
2.5
2.0
2.0
1.9
-0.2
1.0
-0.1
-0.1
0.1
1.6
0.1
0.0
Chg MoM (pp)
27.9
1.3
-0.7
-0.1
-0.3
0.4
0.5
-1.1
-0.3
0.4
-0.7
Weight (%)
Banks Pvt
Auto
Oil & Gas
Technology
Cement
Telecom
Cap Goods
Healthcare
Consumer
Chemicals
7.8
7.8
7.6
6.1
5.9
5.8
4.9
4.8
4.0
Back to
Snapshot
Top sector allocation (%)
Weight (%)
Banks Pvt
Oil & Gas
NBFC
Consumer
Cap Goods
Cement
Technology
Auto
Banks PSU
Healthcare
7.1
6.8
6.0
5.7
4.8
4.1
3.6
11.0
9.0
Top sector allocation (%)
Chg MoM (pp)
21.6
-0.7
-0.7
0.1
-0.7
0.1
2.5
-0.1
-0.9
-0.4
0.1
Top change by market value
Company
HDFC Bank
SBI
UltraTech
L&T
Axis Bank
Kotak M Bank
ICICI Bank
BEL
Bajaj Finance
Interglobe Avi.
Mkt Value Shares Chg
Chg (INR b)
('000)
5.43
1,306
3.78
4,669
3.45
682
3.34
730
3.22
2,297
2.50
551
2.45
2,519
1.20
-908
1.09
140
1.07
420
Top change in weight (%)
Company
UltraTech
HDFC Bank
SBI
L&T
Axis Bank
Kotak M Bank
BEL
HPCL
Interglobe Avi.
Bajaj Finance
Chg MoM Current
(pp)
Weight
0.54
1.69
0.53
9.24
0.52
3.31
0.45
3.00
0.34
4.87
0.29
3.33
0.17
1.00
0.16
0.16
0.15
0.77
0.14
1.04
Top change by market value
Company
Vodafone Idea
Bharti Airtel
SBI Life Life
PNB Hsg Fin
GAIL
SpiceJet
HPCL
IOCL
Kotak M Bank
ITD Cementation
Mkt Value Shares Chg
Chg (INR b)
('000)
8.04
5,90,770
5.26
11,313
1.39
2,000
1.34
1,309
1.10
2,901
0.94
5,000
0.64
60
0.61
1,002
0.57
-399
0.53
5,200
Top change in weight (%)
Company
Vodafone Idea
Bharti Airtel
SBI Life
PNB Hsg Fin
GAIL
SpiceJet
HPCL
ITD Cementation
Torrent Power
K P R Mill
Chg MoM Current
(pp)
Weight
1.57
1.99
0.98
3.92
0.27
0.27
0.26
0.51
0.20
0.90
0.18
0.52
0.11
1.21
0.10
0.31
0.09
0.19
0.09
0.20
Top scheme by NAV change
Scheme Name
Kotak Standard Multicap Fund (G)
Kotak Tax Saver (G)
Kotak Small Cap Fund (G)
Kotak Emerging Equity Fund (G)
Kotak Equity Opportunities (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
255.3
242.4
3.3
9.3
9.2
3.0
12.8
12.0
2.9
43.3
42.0
2.8
25.9
25.7
1.9
Top scheme by NAV change
Scheme Name
Franklin Build India Fund (G)
Franklin India Focused Equity Fund (G)
Franklin India Prima Fund - (G)
Franklin India Smaller Companies Fund (G)
Franklin India Equity Advantage Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
13.2
12.2
4.7
86.5
76.0
3.8
71.5
67.7
2.0
75.8
72.5
2.0
27.3
26.3
1.3
Fund Folio: Indian Mutual Fund Tracker | June 2019
16

Axis:
Equity AUM INR480b
Top company holdings (%)
May-19
Bajaj Finance
HDFC Bank
Kotak M Bank
TCS
HDFC
Pidilite
GRUH Finance
Avenue Super.
Maruti Suzuki
ICICI Bank
5.7
4.5
4.0
4.0
3.6
3.1
Chg MoM (pp)
8.1
0.2
8.1
-0.1
7.7
7.2
0.1
-1.0
0.8
-0.1
0.3
0.0
-0.1
0.1
DSP
:
Equity AUM INR379b
Top company holdings (%)
May-19
HDFC Bank
ICICI Bank
Axis Bank
Bajaj Finance
L&T
RIL
IPCA Lab
Kotak M Bank
Bharat Financial
SBI
23.2
1.5
21.8
-0.7
-1.1
-0.2
-0.9
1.0
0.0
0.0
0.6
-0.5
Chg MoM (pp)
6.6
0.3
5.4
0.0
0.5
3.3
0.0
-0.1
-0.4
-0.1
0.3
0.1
-0.3
Weight (%)
Chg MoM (pp)
Weight (%)
Banks Pvt
Healthcare
NBFC
Cap Goods
Consumer
Auto
Chemicals
Technology
Cement
Oil & Gas
Back to
Snapshot
Top sector allocation (%)
NBFC
Banks Pvt
Technology
Consumer
Auto
Cap Goods
Chemicals
Retail
Oil & Gas
Healthcare
Top sector allocation (%)
Chg MoM (pp)
21.2
1.2
-0.3
8.3
0.2
8.1
-0.1
8.1
0.3
7.5
-0.3
5.9
0.3
5.5
-0.4
4.7
-0.3
4.6
-1.0
4.3
12.0
7.7
7.5
5.2
5.2
5.1
2.5
2.2
2.6
2.5
2.3
2.2
1.8
1.7
1.6
Top change by market value
Company
HDFC
Bajaj Finance
L&T
RIL
Kotak M Bank
GRUH Finance
HDFC Bank
Cummins India
Sundaram Finance
Info Edge
Mkt Value Shares Chg
Chg (INR b)
('000)
5.25
1,460
3.46
-227
3.36
1,405
3.34
2,775
3.14
-116
2.47
7,815
2.17
195
1.79
1,460
1.78
354
1.57
383
Top change in weight (%)
Company
HDFC
L&T
RIL
Shree Cement
Sundaram Finance
Cummins India
GRUH Finance
V-Guard
Bajaj Finance
Info Edge
Chg MoM Current
(pp)
Weight
0.75
5.68
0.58
2.28
0.58
2.30
0.29
0.55
0.27
1.74
0.26
1.90
0.25
4.04
0.20
0.85
0.17
8.10
0.13
2.96
Top change by market value
Company
Axis Bank
HDFC Bank
IndusInd Bank
Kotak M Bank
NTPC
Cadila Healthcare
Power Grid
SBI Life
HUL
Jubilant Food
Mkt Value Shares Chg
Chg (INR b)
('000)
2.00
1,766
1.43
139
1.35
840
1.06
320
0.96
7,296
0.94
3,858
0.90
4,757
0.74
745
0.66
337
0.64
502
Top change in weight (%)
Company
Axis Bank
IndusInd Bank
HDFC Bank
Kotak M Bank
Cadila Healthcare
NTPC
Power Grid
SBI Life
Jubilant Food
HUL
Chg MoM Current
(pp)
Weight
0.49
3.33
0.35
1.06
0.29
6.57
0.26
1.83
0.25
0.27
0.24
0.86
0.24
0.24
0.19
0.90
0.17
0.44
0.16
0.99
Top scheme by NAV change
Scheme Name
AXIS Long Term Equity Fund (G)
AXIS Focused 25 Fund (G)
AXIS Capital Builder Fund - Series 4 (G)
AXIS Bluechip Fund (G)
AXIS Multicap Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
198.2
195.7
3.8
79.8
79.1
3.7
9.3
8.8
3.5
57.5
49.7
3.5
37.0
31.6
3.4
Top scheme by NAV change
Scheme Name
DSP India T.I.G.E.R. Fund (G)
DSP Small Cap Fund (G)
DSP Top 100 Equity Fund (G)
DSP Focus Fund (G)
DSP Equity Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
12.2
11.7
7.0
52.7
49.6
3.4
28.5
27.5
3.4
20.8
20.3
2.8
26.5
25.7
2.7
Fund Folio: Indian Mutual Fund Tracker | June 2019
17

L&T:
Equity AUM INR378b
Top company holdings (%)
May-19
ICICI Bank
HDFC Bank
RIL
L&T
Axis Bank
Ramco Cem.
SBI
TCS
Infosys
Future Retail
2.8
2.7
2.5
2.2
2.2
2.1
Chg MoM (pp)
4.8
-0.1
0.1
4.1
4.0
3.8
-0.3
0.4
0.1
0.1
0.2
0.0
-0.1
0.1
Banks Pvt
Cap Goods
Technology
Cement
Oil & Gas
NBFC
Healthcare
Consumer
Banks PSU
Retail
Mirae Asset:
Equity AUM INR257b
Top company holdings (%)
May-19
HDFC Bank
ICICI Bank
Axis Bank
RIL
L&T
Infosys
SBI
TCS
Maruti Suzuki
Tata Steel
4.3
3.5
3.5
3.5
3.1
2.7
2.4
Chg MoM (pp)
7.8
-0.1
0.2
5.8
4.3
-0.2
-0.5
0.5
0.3
0.3
0.5
0.1
0.1
Weight (%)
Chg MoM (pp)
Weight (%)
Banks Pvt
Healthcare
Technology
NBFC
Consumer
Oil & Gas
Cap Goods
Auto
Banks PSU
Metals
16.5
0.0
11.4
0.8
-0.5
8.9
0.3
7.5
-0.2
6.2
0.2
5.6
-0.8
5.6
-0.5
5.1
4.2
3.9
0.3
0.0
10.2
9.1
8.5
8.0
7.8
7.7
7.1
3.5
3.3
Back to
Snapshot
Top sector allocation (%)
Top sector allocation (%)
Chg MoM (pp)
21.5
-0.9
-0.2
0.0
0.3
0.2
-0.6
0.4
0.3
0.3
-0.1
Top change by market value
Company
L&T
Bharti Airtel
SBI
BEL
HDFC Bank
Engineers India
JSPL
HPCL
Century Textiles
Sunteck Realty
Mkt Value Shares Chg
Chg (INR b)
('000)
1.95
3
1.76
3,933
1.14
33
0.83
606
0.76
32
0.75
3,078
0.66
4,939
0.66
1,450
0.61
239
0.57
1,078
Top change in weight (%)
Company
Bharti Airtel
L&T
SBI
BEL
Engineers India
JSPL
HPCL
Sunteck Realty
Manappuram Fin
Century Textiles
Chg MoM Current
(pp)
Weight
0.44
1.61
0.43
3.84
0.25
2.48
0.20
0.94
0.17
1.30
0.17
0.51
0.16
0.61
0.15
0.29
0.14
0.21
0.14
0.96
Top change by market value
Company
L&T
TCS
Torrent Pharma
ICICI Bank
Eicher Motors
Page Inds
HDFC Bank
SBI
Infosys
HDFC Life
Mkt Value Shares Chg
Chg (INR b)
('000)
2.01
586
1.96
968
1.84
1,347
1.76
2,916
1.69
85
1.67
98
1.60
307
1.45
1,182
1.43
2,118
1.21
1,937
Top change in weight (%)
Company
Torrent Pharma
Eicher Motors
Page Inds
TCS
L&T
HDFC Life
Balkrishna Inds
BEL
SBI
Infosys
Chg MoM Current
(pp)
Weight
0.63
1.54
0.62
0.98
0.58
1.35
0.52
3.08
0.50
3.52
0.32
1.98
0.28
1.23
0.28
1.22
0.26
3.49
0.25
3.50
Top scheme by NAV change
Scheme Name
L&T Business Cycles Fund (G)
L&T Infrastructure Fund (G)
L&T India Value Fund (G)
L&T Tax Advantage Fund (G)
L&T Equity Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
7.9
7.8
7.1
19.3
18.9
4.2
84.0
82.2
3.0
34.2
33.1
2.7
27.6
26.8
2.3
Top scheme by NAV change
Scheme Name
Mirae Asset Emerging Bluechip Fund (G)
Mirae Asset Tax Saver Fund (G)
Mirae Asset Large Cap Fund (G)
Mirae Asset Great Consumer Fund (G)
Mirae Asset Healthcare Fund - Regular (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
76.2
75.7
2.3
21.1
21.1
1.8
130.6
126.1
1.6
7.8
7.5
0.4
3.4
3.4
-5.3
Fund Folio: Indian Mutual Fund Tracker | June 2019
18

Tata:
Equity AUM INR220b
Top company holdings (%)
May-19
HDFC Bank
ICICI Bank
ITC
HDFC
RIL
L&T
Kotak M Bank
Infosys
SBI
TCS
Chg MoM (pp)
7.6
0.2
5.8
5.0
4.8
4.4
3.7
3.1
2.7
2.6
2.4
0.4
-0.4
0.3
-0.2
0.5
0.2
-0.3
0.4
0.0
IDFC:
Equity AUM INR218b
Top company holdings (%)
May-19
ICICI Bank
HDFC Bank
Axis Bank
L&T
RIL
RBL Bank
Infosys
SBI
Future Retail
Kotak M Bank
2.6
2.2
2.0
1.9
1.7
1.6
3.4
Chg MoM (pp)
5.1
0.2
4.5
4.3
0.2
0.4
1.1
-0.2
-0.1
-0.8
0.1
0.0
0.0
Weight (%)
Chg MoM (pp)
Weight (%)
Banks Pvt
Cap Goods
Consumer
NBFC
Auto
Healthcare
Oil & Gas
Technology
Cement
Retail
10.8
7.9
6.7
6.1
5.4
5.4
5.0
4.7
4.2
20.7
0.8
-0.3
14.4
0.6
10.9
-0.8
8.2
0.8
8.1
-0.6
7.4
-0.7
6.7
3.9
2.7
2.7
0.0
0.2
0.5
Back to
Snapshot
Top sector allocation (%)
Banks Pvt
Consumer
NBFC
Technology
Cap Goods
Auto
Oil & Gas
Healthcare
Cement
Banks PSU
Top sector allocation (%)
Chg MoM (pp)
0.7
19.3
0.8
-0.5
0.3
-0.1
-1.3
0.3
-1.1
0.4
-0.1
Top change by market value
Company
L&T
ICICI Bank
SBI
HDFC
Maruti Suzuki
Axis Bank
HDFC Life
Ambuja Cements
Exide Inds
HDFC Bank
Mkt Value Shares Chg
Chg (INR b)
('000)
1.14
29
0.97
1,187
0.95
867
0.77
-66
0.65
84
0.60
583
0.60
1,320
0.57
2,446
0.54
2,522
0.49
-110
Top change in weight (%)
Company
L&T
SBI
ICICI Bank
HDFC
Maruti Suzuki
HDFC Life
Axis Bank
Ambuja Cements
Exide Inds
HDFC Bank
Chg MoM Current
(pp)
Weight
0.50
3.72
0.42
2.58
0.41
5.76
0.32
4.76
0.29
1.38
0.27
0.37
0.27
1.39
0.26
0.30
0.24
0.36
0.18
7.60
Top change by market value
Company
L&T
Axis Bank
ICICI Bank
HDFC Bank
Maruti Suzuki
TCS
SRF
HDFC
SBI
UltraTech
Mkt Value
Shares
Chg (INR b) Chg ('000)
2.63
1,214
1.30
1,074
0.93
1,244
0.90
202
0.80
113
0.53
248
0.51
179
0.50
139
0.48
-83
0.44
80
Top change in weight (%)
Company
L&T
Axis Bank
Maruti Suzuki
SRF
TCS
HDFC Bank
IOCL
ICICI Bank
HDFC
DLF
Current
Chg
MoM (pp) Weight
1.09
3.38
0.41
4.28
0.35
0.72
0.23
0.24
0.22
0.57
0.20
4.46
0.19
0.23
0.19
5.07
0.18
1.17
0.18
0.27
Top scheme by NAV change
Scheme Name
Tata Large Cap Fund - Regular (G)
Tata Large & Mid Cap Fund - Regular (G)
Tata India Tax Savings Fund (G)
Tata Equity P/E Fund - (G)
Tata Mid Cap Growth Fund - (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
8.2
7.9
3.6
14.2
13.6
3.1
18.7
17.7
3.1
56.0
52.8
2.3
6.9
6.5
1.6
Top scheme by NAV change
Scheme Name
IDFC Infrastructure Fund (G)
IDFC Equity Opportunity - Series 5 (G)
IDFC Focused Equity Fund (G)
IDFC Core Equity Fund (G)
IDFC Tax Advantage (ELSS) Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
9.8
9.8
6.7
5.7
5.7
2.6
16.5
15.9
2.3
30.2
29.0
2.2
20.6
20.0
2.1
Fund Folio: Indian Mutual Fund Tracker | June 2019
19

Sundaram:
Equity AUM INR196b
Top company holdings (%)
May-19
HDFC Bank
ICICI Bank
Ramco Cement
Axis Bank
RIL
Trent
Varun Beve.
L&T
ITC
AB Fashion
1.8
1.7
1.6
1.6
1.5
1.5
1.5
Chg MoM (pp)
3.3
0.1
3.1
0.1
2.6
0.1
0.1
0.0
0.2
0.0
0.3
-0.5
-0.1
Banks Pvt
Cap Goods
Consumer
NBFC
Auto
Cement
Technology
Retail
Healthcare
Chemicals
Motilal Oswal:
Equity AUM INR182b
Top company holdings (%)
May-19
HDFC Bank
HDFC
Axis Bank
L&T
Infosys
Bajaj Finance
HDFC Life
RBL Bank
Maruti Suzuki
TCS
0.5
0.7
-0.6
0.6
-0.1
0.3
-0.7
0.4
0.0
-0.3
Chg MoM (pp)
13.9
11.4
11.3
9.3
7.4
5.9
5.6
4.6
4.4
4.3
Back to
Snapshot
Top sector allocation (%)
Weight (%)
Top sector allocation (%)
Chg MoM (pp)
9.6
0.5
Weight (%)
Banks Pvt
NBFC
Technology
Auto
Cap Goods
Oil & Gas
Consumer
Healthcare
Retail
Textiles
0.8
2.5
7.6
7.3
6.6
5.6
Chg MoM (pp)
23.0
-0.9
19.4
2.2
-0.4
11.9
-1.6
0.9
0.5
-0.1
-0.9
0.2
0.1
6.6
6.4
5.8
5.5
5.3
4.3
4.3
4.1
3.8
0.9
1.3
0.8
-0.2
0.4
0.5
0.1
0.1
0.0
8.9
Top change by market value
Company
Federal Bank
L&T
Titan Co.
IIFL Wealth Mgmt
Trent
Timken India
ICICI Bank
Sundaram Clayton
L&T Finance Holding
Tata Power
Mkt Value
Shares
Chg (INR b) Chg ('000)
0.63
0.57
0.56
0.47
0.45
0.42
0.41
0.41
0.39
0.37
3,525
121
404
355
419
120
447
202
2,928
5,338
Top change in weight (%)
Company
Federal Bank
Titan Co.
L&T
IIFL Wealth Mgmt
L&T Finance Holding
Timken India
Tata Power
Trent
Sundaram Clayton
Sanofi India
Chg
Current
MoM (pp) Weight
0.29
0.27
0.25
0.24
0.20
0.19
0.19
0.19
0.18
0.18
1.12
0.73
1.53
0.24
0.20
0.96
0.21
1.65
0.99
0.40
Top change by market value
Company
Axis Bank
HDFC
L&T
HDFC Bank
HDFC Life
AU Small Fin
Bajaj Finance
Kotak M Bank
HPCL
BPCL
Mkt Value Shares Chg
Chg (INR b)
('000)
2.41
2,371
1.77
365
1.42
-8
0.92
61
0.86
505
0.76
680
0.71
-102
0.53
300
0.51
0
0.34
40
Top change in weight (%)
Company
Axis Bank
HDFC
L&T
HDFC Bank
HDFC Life
AU Small Fin
Bajaj Finance
Kotak M Bank
HPCL
BPCL
Chg MoM Current
(pp)
Weight
1.30
6.37
0.94
6.62
0.75
5.83
0.46
9.56
0.45
4.31
0.41
2.41
0.37
5.27
0.29
0.72
0.26
2.72
0.17
2.46
Top scheme by NAV change
Scheme Name
Top scheme by NAV change
Scheme Name
Motilal
Motilal
Motilal
Motilal
Oswal
Oswal
Oswal
Oswal
Focused 25 Fund (G)
Multicap 35 Fund (G)
Long Term Equity Fund (G)
Midcap 30 Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
11.3
11.1
3.6
136.3
132.0
3.3
13.9
13.3
2.0
14.4
13.8
-0.3
Sundaram Infrastructure Advantage Fund (G)
Sundaram Small Cap Fund (G)
Sundaram Services Fund - Regular (G)
Sundaram Diversified Equity (G)
Sundaram Mid Cap Fund - (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
6.3
6.2
6.0
12.0
11.6
3.6
12.2
11.6
3.4
27.9
26.9
3.2
60.9
59.7
3.1
Motilal Oswal Securities Limited is the Sponsor of Motilal Oswal Mutual Fund. The Sponsor is not responsible or liable for any loss or shortfall resulting from the operation of the Mutual Fund beyond the
initial contribution made by it of an amount of Rs. 1 Lac towards setting up of the Mutual Fund. Mutual fund investments are subject to market risks, read all scheme related documents carefully.
Fund Folio: Indian Mutual Fund Tracker | June 2019
20

Canara Robeco:
Equity AUM INR98b
Top company holdings (%)
May-19
HDFC Bank
ICICI Bank
L&T
Axis Bank
RIL
SBI
Infosys
ITC
Kotak M Bank
Divis Lab
2.7
2.6
1.7
4.0
3.8
3.2
Chg MoM (pp)
6.9
0.1
6.7
0.3
5.1
4.2
0.6
0.3
-0.3
0.8
-0.2
0.0
-0.2
-0.1
Invesco:
Equity AUM INR93b
Top company holdings (%)
May-19
HDFC Bank
ICICI Bank
L&T
Axis Bank
Infosys
Exide Inds
TCS
Apollo Hospitals
HDFC
Mphasis
Chg MoM (pp)
8.8
-0.3
6.7
4.4
3.8
2.9
2.0
2.0
2.0
1.9
1.9
-0.1
0.5
0.1
-0.3
0.0
-0.1
0.0
0.0
0.1
Weight (%)
Banks Pvt
Technology
NBFC
Oil & Gas
Healthcare
Auto
Cap Goods
Consumer
Retail
Metals
10.2
9.7
8.9
7.5
7.1
6.4
5.5
2.8
2.6
Back to
Snapshot
Top sector allocation (%)
Weight (%)
Banks Pvt
Cap Goods
Consumer
Oil & Gas
Technology
Auto
Cement
Healthcare
Banks PSU
NBFC
7.4
7.3
7.1
6.7
4.8
4.7
4.2
3.9
Chg MoM (pp)
24.3
0.8
1.4
13.7
-1.2
0.3
-2.0
-0.4
0.4
-0.3
1.2
0.1
Top sector allocation (%)
Chg MoM (pp)
23.9
-0.7
-1.1
0.5
-0.3
-0.3
-0.5
0.0
-0.5
0.1
0.6
Top change by market value
Company
SBI
L&T
ICICI Bank
Tata Steel
Gujarat Gas
Federal Bank
Axis Bank
Bharti Airtel
HDFC Bank
Siemens
Mkt Value Shares Chg
Chg (INR b)
('000)
0.98
1,696
0.84
120
0.61
884
0.54
1,200
0.53
2,390
0.53
3,780
0.52
400
0.43
1,025
0.42
50
0.40
257
Top change in weight (%)
Company
SBI
L&T
Tata Steel
Gujarat Gas
Federal Bank
Bharti Airtel
BOB
Siemens
Axis Bank
HPCL
Chg MoM Current
Weight
(pp)
0.85
3.84
0.62
5.13
0.54
0.90
0.51
1.16
0.50
1.33
0.40
1.29
0.38
0.38
0.36
1.23
0.33
4.17
0.32
0.51
Top change by market value
Company
Bharti Airtel
L&T
SBI
MMFS
Tata Steel
HPCL
Coromandel Intl.
Whirlpool
Axis Bank
DCB Bank
Mkt Value Shares Chg
Chg (INR b)
('000)
1.21
3,327
0.66
75
0.55
1,131
0.52
1,210
0.45
941
0.35
688
0.31
701
0.29
192
0.29
147
0.27
1,157
Top change in weight (%)
Company
Bharti Airtel
MMFS
SBI
L&T
Tata Steel
HPCL
Whirlpool
Coromandel Intl.
DCB Bank
SBI Life
Chg MoM Current
(pp)
Weight
1.27
1.84
0.55
0.67
0.52
1.76
0.49
4.44
0.48
0.57
0.31
1.57
0.30
0.57
0.30
0.94
0.29
0.29
0.24
0.28
Top scheme by NAV change
Scheme Name
Canara Robeco Equity Tax Saver Fund (G)
Canara Robeco Equity Diversified Fund (G)
Canara Robeco Emerging Equities (G)
Canara Robeco Consumer Trends Fund (G)
Canara Robeco Small Cap Fund - Regular (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
9.8
9.6
3.4
12.7
12.0
2.6
48.9
47.5
1.8
3.3
3.3
1.5
2.9
2.8
1.2
Top scheme by NAV change
Scheme Name
Invesco India Smallcap Fund - Regular (G)
Invesco India Contra Fund (G)
Invesco India Tax Plan (G)
Invesco India Multicap Fund (G)
Invesco India Growth Opportunities Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
3.1
2.9
2.1
39.3
37.5
2.0
8.7
8.3
1.8
8.4
8.1
1.1
14.3
13.6
1.1
Fund Folio: Indian Mutual Fund Tracker | June 2019
21

Principal:
Equity AUM INR58b
Top company holdings (%)
May-19
HDFC Bank
ICICI Bank
RIL
SBI
TCS
Kotak M Bank
ITC
Infosys
Axis Bank
Indian Hotels
3.2
3.0
3.0
2.7
2.6
2.0
1.7
Chg MoM (pp)
5.5
0.1
4.5
4.1
0.1
-0.4
0.3
-0.2
0.1
-0.4
-0.1
0.1
0.0
Banks Pvt
Consumer
Technology
NBFC
Cement
Oil & Gas
Cap Goods
Chemicals
Healthcare
Auto
BNP Paribas:
Equity AUM INR41b
Top company holdings (%)
May-19
HDFC Bank
ICICI Bank
Axis Bank
RIL
Infosys
TCS
Muthoot Finance
Kotak M Bank
HDFC
ITC
Chg MoM (pp)
Banks Pvt
NBFC
Consumer
Oil & Gas
Cap Goods
Technology
Auto
Cement
Media
Retail
18.8
1.2
-0.8
-0.5
0.6
0.2
-0.4
-0.2
1.0
-0.8
0.1
Weight (%)
Chg MoM (pp)
Back to
Snapshot
Top sector allocation (%)
Top sector allocation (%)
Weight (%)
Chg MoM (pp)
12.4
10.4
7.1
6.8
5.8
5.0
5.0
3.7
3.2
22.2
-0.9
1.3
-1.5
0.3
0.4
-1.3
-0.2
0.5
-0.2
0.4
11.6
9.1
7.6
6.1
6.1
5.9
5.3
4.7
4.4
7.2
-0.3
6.1
-0.1
0.1
4.8
-0.2
2.8
-0.5
2.4
0.1
2.3
0.0
2.3
-0.3
2.2
-0.1
2.1
0.2
2.1
Top change by market value
Company
IndusInd Bank
Tata Chemicals
SBI
Chambal Fertilisers
Bharti Airtel
HDFC Bank
SBI Life
ICICI Bank
L&T
Kotak M Bank
Mkt Value
Shares
Chg (INR b) Chg ('000)
0.48
0.25
0.23
0.18
0.17
0.16
0.14
0.14
0.13
0.12
300
400
15
202
372
7
121
105
0
-24
Top change in weight (%)
Company
IndusInd Bank
Tata Chemicals
SBI
Chambal Fertilisers
Bharti Airtel
SBI Life
SKF India
L&T
SRF
Axis Bank
Chg
Current
MoM (pp) Weight
0.83
0.43
0.27
0.27
0.26
0.20
0.20
0.16
0.15
0.13
0.83
0.43
3.15
1.46
1.03
1.48
0.20
1.65
1.07
2.04
Top change by market value
Company
HDFC Life
Bharti Airtel
BEL
SBI
L&T
Torrent Power
Shree Cement
ICICI Pru. Life
BOB
HPCL
Mkt Value Shares Chg
Chg (INR b)
('000)
0.34
713
0.34
866
0.24
1,900
0.19
315
0.18
51
0.17
715
0.16
5
0.15
309
0.15
1,065
0.15
409
Top change in weight (%)
Company
HDFC Life
Bharti Airtel
BEL
SBI
Torrent Power
L&T
BOB
HPCL
Shree Cement
ICICI Pru. Life
Chg MoM Current
(pp)
Weight
0.80
1.50
0.78
1.84
0.57
0.80
0.40
1.83
0.39
0.99
0.38
2.12
0.36
0.48
0.34
0.65
0.33
1.75
0.30
1.88
Top scheme by NAV change
Scheme Name
Principal
Principal
Principal
Principal
Principal
Focused Multicap Fund (G)
Personal Tax saver Fund - (G)
Tax Savings Fund
Multi Cap Growth Fund - (G)
Emerging Bluechip Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
3.3
3.3
2.4
2.8
2.7
2.3
4.2
4.1
2.2
9.0
8.8
2.2
22.4
22.0
1.8
Top scheme by NAV change
Scheme Name
BNP Paribas
BNP Paribas
BNP Paribas
BNP Paribas
BNP Paribas
Mid Cap Fund (G)
Multi Cap Fund (G)
India Consumption Fund - Reg (G)
Large Cap Fund (G)
Long Term Equity Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
7.6
7.4
5.2
7.9
7.7
4.3
3.8
3.7
3.6
7.9
7.6
3.6
4.8
4.6
3.3
Fund Folio: Indian Mutual Fund Tracker | June 2019
22

Motilal Oswal Securities Limited
MEMBER OF BSE AND NSE
Motilal Oswal Tower, Sayani Road, Prabhadevi, Mumbai 400 025, INDIA
BOARD: +91 22 3982 5500 | WEBSITE:
www.motilaloswal.com
Explanation of Investment Rating
Investment Rating
BUY
SELL
NEUTRAL
UNDER REVIEW
NOT RATED
Expected return (over 12-month)
>=15%
< - 10%
> - 10 % to 15%
Rating may undergo a change
We have forward looking estimates for the stock but we refrain from assigning recommendation
*In case the recommendation given by the Research Analyst is inconsistent with the investment rating legend for a continuous period of 30 days,the Research Analyst shall within following 30 days take appropriate measures to make the
recommendation consistent with the investment rating legend.
Disclosures:
The following Disclosures are being made in compliance with the SEBI Research Analyst Regulations 2014 (herein after referred to as the Regulations).
Motilal Oswal Financial Services Ltd. (MOFSL) is a SEBI Registered Research Analyst having registration no. INH000000412. MOFSL, the Research Entity (RE) as defined in the Regulations, is engaged in the business of providing Stock broking
services, Investment Advisory Services, Depository participant services & distribution of various financial products. MOFSL is a subsidiary company of Passionate Investment Management Pvt. Ltd.. (PIMPL). MOFSL is a listed public company, the
details in respect of which are available on
www.motilaloswal.com.
MOFSL (erstwhile Motilal Oswal Securities Limited - MOSL) is registered with the Securities & Exchange Board of India (SEBI) and is a registered Trading Member with National Stock
Exchange of India Ltd. (NSE) and Bombay Stock Exchange Limited (BSE), Multi Commodity Exchange of India Limited (MCX) and National Commodity & Derivatives Exchange Limited (NCDEX) for its stock broking activities & is Depository participant
with Central Depository Services Limited (CDSL) National Securities Depository Limited (NSDL),NERL, COMRIS and CCRL and is member of Association of Mutual Funds of India (AMFI) for distribution of financial products and Insurance Regulatory &
Development Authority of India (IRDA) as Corporate Agent for insurance products. Details of associate entities of Motilal Oswal Financial Services Limited are available on the website at
http://onlinereports.motilaloswal.com/Dormant/documents/Associate%20Details.pdf
Details of pending Enquiry Proceedings of Motilal Oswal Financial Services Limited are available on the website at
https://galaxy.motilaloswal.com/ResearchAnalyst/PublishViewLitigation.aspx
MOFSL, it’s associates, Research Analyst or their relative may have any financial interest in the subject company. MOFSL and/or its associates and/or Research Analyst may have actual/beneficial ownership of 1% or more securities in the past 12
months. MOFSL and its associate company(ies), their directors and Research Analyst and their relatives may; (a) from time to time, have a long or short position in, act as principal in, and buy or sell the securities or derivatives thereof of companies
mentioned herein. (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the company(ies) discussed herein or act as an advisor or
lender/borrower to such company(ies) or may have any other potential conflict of interests with respect to any recommendation and other related information and opinions.; however the same shall have no bearing whatsoever on the specific
recommendations made by the analyst(s), as the recommendations made by the analyst(s) are completely independent of the views of the associates of MOFSL even though there might exist an inherent conflict of interest in some of the stocks
mentioned in the research report. Research Analyst may have served as director/officer, etc. in the subject company in the past 12 months. MOFSL and/or its associates may have received any compensation from the subject company in the past 12
months.
In the past 12 months, MOFSL or any of its associates may have:
a)
managed or co-managed public offering of securities from subject company of this research report,
b)
received compensation for investment banking or merchant banking or brokerage services from subject company of this research report,
c)
received compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company of this research report.
d)
Subject Company may have been a client of MOFSL or its associates in the past 12 months.
MOFSL and it’s associates have not received any compensation or other benefits from the subject company or third party in connection with the research report. To enhance transparency, MOFSL has incorporated a Disclosure of Interest Statement in
this document. This should, however, not be treated as endorsement of the views expressed in the report. MOFSL and / or its affiliates do and seek to do business including investment banking with companies covered in its research reports. As a
result, the recipients of this report should be aware that MOFSL may have a potential conflict of interest that may affect the objectivity of this report. Compensation of Research Analysts is not based on any specific merchant banking, investment
banking or brokerage service transactions. Above disclosures include beneficial holdings lying in demat account of MOFSL which are opened for proprietary investments only. While calculating beneficial holdings, It does not consider demat accounts
which are opened in name of MOFSL for other purposes (i.e holding client securities, collaterals, error trades etc.). MOFSL also earns DP income from clients which are not considered in above disclosures.
23

Terms & Conditions:
This report has been prepared by MOFSL and is meant for sole use by the recipient and not for circulation. The report and information contained herein is strictly confidential and may not be altered in any way, transmitted to, copied or
distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent of MOFSL. The report is based on the facts, figures and information that are considered true, correct, reliable and
accurate. The intent of this report is not recommendatory in nature. The information is obtained from publicly available media or other sources believed to be reliable. Such information has not been independently verified and no guaranty,
representation of warranty, express or implied, is made as to its accuracy, completeness or correctness. All such information and opinions are subject to change without notice. The report is prepared solely for informational purpose and
does not constitute an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments for the clients. Though disseminated to all the customers simultaneously, not all customers may receive this
report at the same time. MOFSL will not treat recipients as customers by virtue of their receiving this report.
Analyst Certification
The views expressed in this research report accurately reflect the personal views of the analyst(s) about the subject securities or issues, and no part of the compensation of the research analyst(s) was, is, or will be directly or indirectly
related to the specific recommendations and views expressed by research analyst(s) in this report.
Disclosure of Interest Statement
Companies where there is interest
Analyst ownership of the stock
No
A graph of daily closing prices of securities is available at
www.nseindia.com, www.bseindia.com.
Research Analyst views on Subject Company may vary based on Fundamental research and Technical Research. Proprietary trading desk of
MOFSL or its associates maintains arm’s length distance with Research Team as all the activities are segregated from MOFSL research activity and therefore it can have an independent view with regards to subject company for which
Research Team have expressed their views.
Regional Disclosures (outside India)
This report is not directed or intended for distribution to or use by any person or entity resident in a state, country or any jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would
subject MOFSL & its group companies to registration or licensing requirements within such jurisdictions.
For Hong Kong:
This report is distributed in Hong Kong by Motilal Oswal capital Markets (Hong Kong) Private Limited, a licensed corporation (CE AYY-301) licensed and regulated by the Hong Kong Securities and Futures Commission (SFC) pursuant to
the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) “SFO”. As per SEBI (Research Analyst Regulations) 2014 Motilal Oswal Financial Services Limited(SEBI Reg No. INH000000412) has an agreement with
Motilal Oswal capital Markets (Hong Kong) Private Limited for distribution of research report in Hong Kong. This report is intended for distribution only to “Professional Investors” as defined in Part I of Schedule 1 to SFO. Any investment or
investment activity to which this document relates is only available to professional investor and will be engaged only with professional investors.” Nothing here is an offer or solicitation of these securities, products and services in any
jurisdiction where their offer or sale is not qualified or exempt from registration. The Indian Analyst(s) who compile this report is/are not located in Hong Kong & are not conducting Research Analysis in Hong Kong.
For U.S:
Motilal Oswal Financial Services Limited (MOFSL) is not a registered broker - dealer under the U.S. Securities Exchange Act of 1934, as amended (the"1934 act") and under applicable state laws in the United States. In addition MOFSL is
not a registered investment adviser under the U.S. Investment Advisers Act of 1940, as amended (the "Advisers Act" and together with the 1934 Act, the "Acts), and under applicable state laws in the United States. Accordingly, in the
absence of specific exemption under the Acts, any brokerage and investment services provided by MOFSL, including the products and services described herein are not available to or intended for U.S. persons. This report is intended for
distribution only to "Major Institutional Investors" as defined by Rule 15a-6(b)(4) of the Exchange Act and interpretations thereof by SEC (henceforth referred to as "major institutional investors"). This document must not be acted on or relied
on by persons who are not major institutional investors. Any investment or investment activity to which this document relates is only available to major institutional investors and will be engaged in only with major institutional investors. In
reliance on the exemption from registration provided by Rule 15a-6 of the U.S. Securities Exchange Act of 1934, as amended (the "Exchange Act") and interpretations thereof by the U.S. Securities and Exchange Commission ("SEC") in
order to conduct business with Institutional Investors based in the U.S., MOFSL has entered into a chaperoning agreement with a U.S. registered broker-dealer, Motilal Oswal Securities International Private Limited. ("MOSIPL"). Any
business interaction pursuant to this report will have to be executed within the provisions of this chaperoning agreement.
The Research Analysts contributing to the report may not be registered /qualified as research analyst with FINRA. Such research analyst may not be associated persons of the U.S. registered broker-dealer, MOSIPL, and therefore, may not
be subject to NASD rule 2711 and NYSE Rule 472 restrictions on communication with a subject company, public appearances and trading securities held by a research analyst account.
24

For Singapore
In Singapore, this report is being distributed by Motilal Oswal Capital Markets Singapore Pte Ltd (“MOCMSPL”) (Co.Reg. NO. 201129401Z) which is a holder of a capital markets services license and an exempt financial adviser in
Singapore,
as per the approved agreement under Paragraph 9 of Third Schedule of Securities and Futures Act (CAP 289) and Paragraph 11 of First Schedule of Financial Advisors Act (CAP 110) provided to MOCMSPL by Monetary Authority of
Singapore. Persons in Singapore should contact MOCMSPL in respect of any matter arising from, or in connection with this report/publication/communication. This report is distributed solely to persons who qualify as “Institutional
Investors”, of which some of whom may consist of "accredited" institutional investors as defined in section 4A(1) of the Securities and Futures Act, Chapter 289 of Singapore (“the SFA”). Accordingly, if a Singapore person is not or ceases
to be such an institutional investor, such Singapore Person must immediately discontinue any use of this Report and inform MOCMSPL.
Disclaimer:
The report and information contained herein is strictly confidential and meant solely for the selected recipient and may not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to
the media or reproduced in any form, without prior written consent. This report and information herein is solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or
subscribe for securities or other financial instruments. Nothing in this report constitutes investment, legal, accounting and tax advice or a representation that any investment or strategy is suitable or appropriate to your specific
circumstances. The securities discussed and opinions expressed in this report may not be suitable for all investors, who must make their own investment decisions, based on their own investment objectives, financial positions and needs of
specific recipient. This may not be taken in substitution for the exercise of independent judgment by any recipient. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent
evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult its own advisors to determine the merits and risks of such an investment. The investment
discussed or views expressed may not be suitable for all investors. Certain transactions -including those involving futures, options, another derivative products as well as non-investment grade securities - involve substantial risk and are not
suitable for all investors. No representation or warranty, express or implied, is made as to the accuracy, completeness or fairness of the information and opinions contained in this document. The Disclosures of Interest Statement
incorporated in this document is provided solely to enhance the transparency and should not be treated as endorsement of the views expressed in the report. This information is subject to change without any prior notice. The Company
reserves the right to make modifications and alternations to this statement as may be required from time to time without any prior approval. MOFSL, its associates, their directors and the employees may from time to time, effect or have
effected an own account transaction in, or deal as principal or agent in or for the securities mentioned in this document. They may perform or seek to perform investment banking or other services for, or solicit investment banking or other
business from, any company referred to in this report. Each of these entities functions as a separate, distinct and independent of each other. The recipient should take this into account before interpreting the document. This report has been
prepared on the basis of information that is already available in publicly accessible media or developed through analysis of MOFSL. The views expressed are those of the analyst, and the Company may or may not subscribe to all the views
expressed therein. This document is being supplied to you solely for your information and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, copied, in whole or in part, for any
purpose. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or
use would be contrary to law, regulation or which would subject MOFSL to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain
category of investors. Persons in whose possession this document may come are required to inform themselves of and to observe such restriction. Neither the Firm, not its directors, employees, agents or representatives shall be liable for
any damages whether direct or indirect, incidental, special or consequential including lost revenue or lost profits that may arise from or in connection with the use of the information. The person accessing this information specifically agrees
to exempt MOFSL or any of its affiliates or employees from, any and all responsibility/liability arising from such misuse and agrees not to hold MOFSL or any of its affiliates or employees responsible for any such misuse and further agrees
to hold MOFSL or any of its affiliates or employees free and harmless from all losses, costs, damages, expenses that may be suffered by the person accessing this information due to any errors and delays.
Registered Office Address: Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai-400025; Tel No.: 022 71934200/ 022-71934263; Website
www.motilaloswal.com.
CIN No.: L67190MH2005PLC153397.Correspondence Office Address: Palm Spring Centre, 2nd Floor, Palm Court Complex, New Link Road, Malad(West), Mumbai- 400 064. Tel No: 022 7188 1000.
Registration Nos.: Motilal Oswal Financial Services Limited (MOFSL)*: INZ000158836(BSE/NSE/MCX/NCDEX); CDSL and NSDL: IN-DP-16-2015; Research Analyst: INH000000412. AMFI: ARN - 146822; Investment Adviser:
INA000007100; Insurance Corporate Agent: CA0579 ;PMS:INP000006712. Motilal Oswal Asset Management Company Ltd. (MOAMC): PMS (Registration No.: INP000000670); PMS and Mutual Funds are offered through MOAMC which is
group company of MOFSL. Motilal Oswal Wealth Management Ltd. (MOWML): PMS (Registration No.: INP000004409) is offered through MOWML, which is a group company of MOFSL. Motilal Oswal Financial Services Limited is a
distributor of Mutual Funds, PMS, Fixed Deposit, Bond, NCDs,Insurance Products and IPOs.Real Estate is offered through Motilal Oswal Real Estate Investment Advisors II Pvt. Ltd. which is a group company of MOFSL. Private Equity is
offered through Motilal Oswal Private Equity Investment Advisors Pvt. Ltd which is a group company of MOFSL. Research & Advisory services is backed by proper research. Please read the Risk Disclosure Document prescribed by the
Stock Exchanges carefully before investing. There is no assurance or guarantee of the returns. Investment in securities market is subject to market risk, read all the related documents carefully before investing. Details of Compliance
Officer: Name: Neeraj Agarwal, Email ID: na@motilaloswal.com, Contact No.:022-71881085.
* MOSL has been amalgamated with Motilal Oswal Financial Services Limited (MOFSL) w.e.f August 21, 2018 pursuant to order dated July 30, 2018 issued by Hon'ble National Company Law Tribunal, Mumbai Bench.
25

NOTES
26

Quant Research & India Strategy Gallery