Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
ET Wealth
11,588.3535.85
Stock Analysis, IPO, Mutual Funds, Bonds & More

Local mutual funds’ global bets disappoint on returns charts

Funds held 2.38 per cent and 1.27 per cent in Nestle and Microsoft.

, ET Bureau|
Updated: Jun 21, 2019, 10.09 AM IST
0Comments
Getty Images
Mutual-funds-1---Getty
International funds run by Indian mutual funds have invested abroad but these four stocks have declined between 7 per cent and 20 per cent in the last one year.
International schemes of domestic mutual funds mostly held stocks of global companies that have been underperformers. Cognizant, Alphabet, Facebook and Suzuki Motors have attracted half of the Rs 2,700 crore that international funds run by Indian mutual funds have invested abroad but these four stocks have declined between 7 per cent and 20 per cent in the last one year. About 27 per cent, or Rs 729 crore, of this exposure is in global IT giant Cognizant.

Mutual funds such as Aditya Birla, Franklin Templeton, ICICI Prudential, IDFC, Motilal Oswal and SBI own Cognizant, show data compiled by Prime Database. Alphabet (Google) and Facebook have declined 7 per cent each in the last one year while Suzuki Motor Corp fell 18 per cent during this period. The rest of the corpus was spread across 340 companies. Funds held 2.38 per cent and 1.27 per cent in Nestle and Microsoft, the outperformers in the last one year. These two stocks rallied 36 per cent and 33 per cent, respectively. About 1 per cent of the funds were invested in Apple.

MF snip 3

0Comments

Also Read

Is my mutual fund portfolio overdiversified?

Low cost mutual funds for an NRI

Is it time to say goodbye to debt mutual funds?

Safe mutual fund schemes for senior citizens

Am I investing in the right mutual fund schemes?

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for Live Elections News & Results, Latest News in Business, Share Market & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service