Local mutual funds’ global bets disappoint on returns charts
Funds held 2.38 per cent and 1.27 per cent in Nestle and Microsoft.
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.