Banks, financial companies among MFs’ top picks, some exit PSUs

Mutual fund managers added bets on select companies across sectors such as banking, fi nancial services, and insurance (BFSI), auto & auto ancillaries, and IT in June. HDFC Bank was one of the top picks of equity schemes. Among fi nance cos, fund managers bought Shriram Finance, PNB Housing and LIC Housing Finance. Some mutual funds raised stakes in automobile stocks including Maruti Suzuki, Ashok Leyland and M&M. Among consumer discretionary stocks, managers have taken fresh exposure to stocks such as Asian Paints, Berger Paints, Havells India, and Crompton Greaves Consumer Electricals. Some of the most notable exits from equity portfolios of mutual funds have been shares of public sector companies, which have been the top performers in the past year.— Rajesh Naidu & Prashant Mahesh