India’s largest private sector bank HDFC Bank has also left worried to mutual fund investors as the nifty stock is the single largest holding in mutual funds and forms about 7.1% or Rs 211460 crore of total Assets Under Management.
As per the data of December month that mutual funds deployed a sell on rise strategy and sold 2.54 crore shares of HDFC Bank as the stock ended with 9.7% higher in that month. India’s largest Bank HDFC Bank have largest equity mutual funds holding in various mutual funds houses, like UTI MF, Kotak Mahindra MF, HDFC AMC, Nippon India, Aditya Birla Sun Life, SBI MF, Mirae Assets , and DSP Mutual Funds.
As per the data, in previous month, SBI MF which is India’s Largest Asset Manager with equity AUM of Rs. 614000 crore, solds their 33.60 lakh shares of HDFC Bank. same as Aditya Birla solds mutual funds of Rs 29.9 Lakh shares also Nippon India sol 16 Lakh shares, kotak Sold, 14043 lakh shares of the lender.
During the AMC is not just about HDFC Bank but its all about the all the financial sector with 22 basis point contraction. Others sectors on the sell list are auto, health care and consumption. On the quarterly basis mutual funds decreased their holdings in the bank from 19.71% to 19.45% in the quarter 3. On the other side FII holdings margically, went from 52.13 to 52.31%