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Economic Times
2 days ago
- Business
- Economic Times
Parag Parikh Flexi Cap Fund increases stake in ITC and 11 other stocks in July
Parag Parikh Flexi Cap Fund strategically increased its holdings in ITC and eleven other stocks during July. Parag Parikh Flexi Cap Fund, the largest active fund and flexi cap fund, increased its stake in ITC and 11 other stocks in the month of July. The fund added around 47.50 lakh shares of ITC taking the total number of shares to 12.21 crore in July against 11.74 crore in June. The other stocks added in the portfolio included Axis Bank, Bharti Airtel, Cipla, Dr. Reddy's Laboratories, EID Parry India, HCL Technologies, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Power Grid Corporation of India, Zydus Lifesciences. Also Read | Raksha Bandhan: Could a mutual fund SIP gift today secure your sibling's future? It added around 65.70 lakh shares of Power Grid Corporation of India, followed by 31.16 lakh shares of ICICI flexi cap fund reduced its stake from IPCA Laboratories and sold 7.45 lakh shares of this stock from the portfolio. Only one new stock was added in the portfolio in the said period. Motilal Oswal Financial Services was the new entrant in the portfolio and around 5.91 lakh shares were added to the portfolio. The fund did not make a complete exit from any stock in the mentioned time period. Exposure in nearly 15 stocks remained unchanged in July which includes Bajaj Holdings & Investment, Balkrishna Industries, CDSL, Coal India, Indian Energy Exchange, Infosys, Mahindra & Mahindra, MCX, Swaraj Engines, and Zydus Wellness. Parag Parikh Flexi Cap Fund is an open-ended dynamic Equity scheme investing across large cap, mid cap, small cap investment objective of the fund is to seek to generate long-term capital growth from an actively managed portfolio primarily of Equity and Equity Related Securities. The scheme shall invest in Indian equities, foreign equities and related instruments and debt securities. Launched on May 24, 2013, the fund had an AUM of Rs 1.13 lakh crore as on July 31, flexi cap fund is benchmarked against NIFTY 500 (TRI) and is managed by Rajeev Thakkar, Raunak Onkar, Raj Mehta, Rukun Tarachandani, and Mansi Kariya. Also Read | Over 50 mutual fund SIPs give negative returns in 1 year. Should you pause, redeem, or continue? According to the monthly release by the fund house, the core portfolio consists of equity investments made with a long term outlook and the factors considered while investing are quality of management, quality of the sector and the business (return on capital, entry barriers, capital intensity, use of debt, growth prospects etc) and the valuation of the companies. The endeavor of the fund management team is to identify opportunities for long term investments.'We continue to look at individual investments on their own merits and will not hesitate to invest if an opportunity looks attractive. As usual, our investment stance does not depend much on the macro-economic situation but is focussed on individual companies. We have about 23.29% in cash holdings, debt & money market instruments and arbitrage positions which can be deployed in long term investments at appropriate levels,' the fund house said.
Economic Times
10-07-2025
- Business
- Economic Times
Parag Parikh Flexi Cap Fund increases stake in ITC, Coal India, and 10 other stocks in June
Synopsis Parag Parikh Flexi Cap Fund raised stakes in ITC, Coal India, Bharti Airtel, HCL Tech, and others in June, while trimming exposure to IPCA Labs and Motilal Oswal. Zydus Wellness was the only new addition. The fund held 29 stocks as of June-end. The exposure was reduced in only two stocks, which were IPCA Laboratories and Motilal Oswal Financial Services. Parag Parikh Flexi Cap Fund, the largest active fund and the largest flexi cap fund based on assets managed, has increased its stake in ITC, Coal India, and 10 other stocks in the month of fund added 81.51 lakh shares of ITC to its portfolio, taking the total number of shares to 11.74 crore in June against 10.92 crore shares in May. Around 63.57 lakh shares of Coal India were added to the portfolio in the same period. Also Read | Midcap and smallcap mutual funds witness surge in inflows. Is investor confidence back? The flexi cap fund added 1.53 crore shares of Power Grid Corporation of India in June, followed by 91.37 lakh shares of Bharti Airtel in the same period. The other stocks where it increased its stake included Cipla, EID Parry India, HCL Technologies, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Mahindra & Mahindra, and exposure was reduced in only two stocks which were IPCA Laboratories and Motilal Oswal Financial Services. Around 48 lakh shares of Motilal Oswal Financial Services were sold out from the portfolio in the mentioned period and 3.29 lakh shares of IPCA Laboratories were sold out. Only one new stock was added to the portfolio - Zydus Wellness. Around 44 lakh shares of Zydus Wellness were added to the portfolio in June. The fund did not make a complete exit from any stock in the same period. The exposure in 14 stocks remained unchanged which includes Axis Bank, Bajaj Holdings & Investment, CDSL, Dr. Reddy's Laboratories, ICRA, Indian Energy Exchange, Infosys, Maharashtra Scooters, Maruti Suzuki India, Multi Commodity Exchange of India, Narayana Hrudayalaya, Swaraj Engines, and Zydus fund had around 29 stocks in its portfolio in June against 28 stocks in May. The fund had an AUM of Rs 1.10 lakh crore as on June 30, Parikh Flexi Cap Fund is an open-ended dynamic equity scheme investing across large cap, mid cap, small cap stocks. The investment objective of the fund is to seek to generate long-term capital growth from an actively managed portfolio primarily of equity and equity related securities. The scheme shall invest in Indian equities, foreign equities and related instruments and debt securities. Also Read | Investing in JioBlackRock Liquid Fund? Find out 1-month to 1-year return of other liquid funds The fund is managed by Rajeev Thakkar, Raunak Onkar, Raj Mehta, Rukun Tarachandani, and Mansi Kariya. The fund is benchmarked against NIFTY 500 (TRI). According to the monthly release by the fund house, the core portfolio consists of equity investments made with a long term outlook and the factors considered while investing are quality of management, quality of the sector and the business (return on capital, entry barriers, capital intensity, use of debt, growth prospects etc) and the valuation of the companies. The fund management team endeavours to identify opportunities for long-term investments. However, there are times when the opportunities are not attractive enough. While waiting for attractive opportunities, the fund invests in arbitrage opportunities between the cash and futures equity markets and special situations arbitrage where open offers/delisting/merger events have been announced. Investments are also made in money market/debt securities while waiting for deployment in core equity investments, the release said.'We continue to look at individual investments on their own merits and will not hesitate to invest if an opportunity looks attractive. As usual, our investment stance does not depend much on the macroeconomic situation but is focused on individual companies. We have about 21.85% in cash holdings, debt & money market instruments and arbitrage positions which can be deployed in long-term investments at appropriate levels,' the fund house said. (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Time of India
10-07-2025
- Business
- Time of India
Parag Parikh Flexi Cap Fund increases stake in ITC, Coal India, and 10 other stocks in June
Parag Parikh Flexi Cap Fund , the largest active fund and the largest flexi cap fund based on assets managed, has increased its stake in ITC , Coal India , and 10 other stocks in the month of June. The fund added 81.51 lakh shares of ITC to its portfolio, taking the total number of shares to 11.74 crore in June against 10.92 crore shares in May. Around 63.57 lakh shares of Coal India were added to the portfolio in the same period. Also Read | Midcap and smallcap mutual funds witness surge in inflows. Is investor confidence back? Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Как осветих двора си без разходи за ток Shark Light Научете повече Undo The flexi cap fund added 1.53 crore shares of Power Grid Corporation of India in June, followed by 91.37 lakh shares of Bharti Airtel in the same period. The other stocks where it increased its stake included Cipla , EID Parry India, HCL Technologies , HDFC Bank , ICICI Bank , Kotak Mahindra Bank, Mahindra & Mahindra, and Nesco. The exposure was reduced in only two stocks which were IPCA Laboratories and Motilal Oswal Financial Services. Around 48 lakh shares of Motilal Oswal Financial Services were sold out from the portfolio in the mentioned period and 3.29 lakh shares of IPCA Laboratories were sold out. Live Events Only one new stock was added to the portfolio - Zydus Wellness. Around 44 lakh shares of Zydus Wellness were added to the portfolio in June. The fund did not make a complete exit from any stock in the same period. The exposure in 14 stocks remained unchanged which includes Axis Bank, Bajaj Holdings & Investment, CDSL, Dr. Reddy's Laboratories, ICRA, Indian Energy Exchange, Infosys, Maharashtra Scooters, Maruti Suzuki India, Multi Commodity Exchange of India, Narayana Hrudayalaya, Swaraj Engines, and Zydus Lifesciences. The fund had around 29 stocks in its portfolio in June against 28 stocks in May. The fund had an AUM of Rs 1.10 lakh crore as on June 30, 2025. Parag Parikh Flexi Cap Fund is an open-ended dynamic equity scheme investing across large cap, mid cap, small cap stocks. The investment objective of the fund is to seek to generate long-term capital growth from an actively managed portfolio primarily of equity and equity related securities. The scheme shall invest in Indian equities, foreign equities and related instruments and debt securities. Also Read | Investing in JioBlackRock Liquid Fund? Find out 1-month to 1-year return of other liquid funds The fund is managed by Rajeev Thakkar, Raunak Onkar, Raj Mehta, Rukun Tarachandani, and Mansi Kariya. The fund is benchmarked against NIFTY 500 (TRI). According to the monthly release by the fund house, the core portfolio consists of equity investments made with a long term outlook and the factors considered while investing are quality of management, quality of the sector and the business (return on capital, entry barriers, capital intensity, use of debt, growth prospects etc) and the valuation of the companies. The fund management team endeavours to identify opportunities for long-term investments. However, there are times when the opportunities are not attractive enough. While waiting for attractive opportunities, the fund invests in arbitrage opportunities between the cash and futures equity markets and special situations arbitrage where open offers/delisting/merger events have been announced. Investments are also made in money market/debt securities while waiting for deployment in core equity investments, the release said. 'We continue to look at individual investments on their own merits and will not hesitate to invest if an opportunity looks attractive. As usual, our investment stance does not depend much on the macroeconomic situation but is focused on individual companies. We have about 21.85% in cash holdings, debt & money market instruments and arbitrage positions which can be deployed in long-term investments at appropriate levels,' the fund house said. ( Disclaimer : Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Economic Times
19-06-2025
- Business
- Economic Times
Rs 58,000 crore cash lying idle in 5 mutual fund schemes. Are stocks too expensive to buy?
A growing pile of cash is making more noise than stock picks in some mutual fund houses. Five mutual fund schemes now hold Rs 58,442 crore in cash, accounting for a staggering 30% of the entire mutual fund industry's cash reserves. ADVERTISEMENT Out of a Rs 2 lakh crore industry-wide cash corpus, these five are sitting on the largest war chest. Parag Parikh Flexi Cap Fund tops the list with the highest cash pile of Rs 22,360 crore. SBI Contra Fund follows with Rs 10,028 crore, HDFC Flexi Cap with Rs 10,013 crore, Motilal Oswal Midcap with Rs 9,479 crore, and HDFC Mid-Cap Opportunities with Rs 6,562 crore, according to data from Elara Securities. That's not all. About 25% of the entire mutual fund industry's cash is concentrated in just four schemes, and half of it is held by only 18. What's more telling is that the cash hoarding has lasted over a year for many of them with experts saying it isn't a tactical timeout but a strategic positioning reflecting caution on current market valuations, especially in the mid and smallcap segments. 'Most of these schemes have maintained elevated cash levels for more than a year. Importantly, 25% of the incremental inflow over past 9-months have come in 12 schemes which have not got totally deployed in the market, raising cash levels,' said Elara's Sunil Jain. Also Read | Promoter, PE & VC selling crosses Rs 40,000 crore in 2 weeks: Red flag for Nifty bulls? The hesitation to buy in the secondary market despite a roaring rally hints at something deeper. ADVERTISEMENT 'The persistence of high cash balances over a long period—despite ongoing market strength—suggests that most of these fund managers are not likely to aggressively chase secondary market rallies. Rather than deploying cash in the secondary market, managers are channeling liquidity into the primary market. A large chunk of this paper supply has come from promoter divestments and PE exits, not new capital formation. This signals distribution, not expansion,' he schemes continue to show comfort in deploying funds with overall cash levels falling to Rs 16,500 crore from Rs 19,120 crore in April. But midcap schemes are showing signs of withdrawal. Cash levels in midcap funds have surged to 7.3%, the highest since 2020, fuelled by massive inflows into Motilal Oswal Midcap Fund. The total cash here is now Rs 29,900 crore, up from Rs 27,700 crore in April. ADVERTISEMENT Smallcap schemes have only slightly trimmed their cash stockpiles. At Rs 25,900 crore, they're just a notch below last month's Rs 25,250 crore. Overall, the mutual fund industry's active equity schemes collectively held Rs 2 lakh crore in cash in May, slightly down from Rs 2.06 lakh crore in April. Parag Parikh Mutual Fund leads in cash as a percentage of AUM—holding 21.3% in cash. Motilal Oswal is not far behind at 19.9%, according to Elara. ADVERTISEMENT For Parag Parikh, taking cash calls isn't new. The fund house's CIO Rajeev Thakkar, in an earlier note, had compared this approach to playing Test cricket—not swinging wildly, but waiting patiently for the right ball. For him, holding cash is less about timing and more about readiness—for the right price, the right stock, and the right pitch.'Holding some amount of cash gives us the opportunity to deploy whenever a stock trades at attractive valuations to deploy. Investment opportunities do not come everyday across all companies and one has to wait to deploy money well,' Thakkar had said, adding that one shouldn't perceive it as market timing but rather waiting to deploy at the right valuation. ADVERTISEMENT For fund houses like Quantum AMC, which has around 12% cash in its portfolio, the elevated cash is not a tactical bet, but a result of a valuation-driven discipline.'Given that markets, in aggregate, are perceived as expensive with fewer attractive opportunities, our cash levels naturally become slightly elevated. We are disciplined about adhering to our investment philosophy, which prioritizes value and long-term potential. When we find that the opportunities aligning with our rigorous selection criteria are not readily available at attractive valuations, we prefer to hold cash rather than deploy capital into overvalued assets. This approach ensures that we are positioned to capitalize on opportunities when they do emerge, rather than being forced to invest simply to deploy capital,' Chirag Mehta, CIO, Quantum AMC, told ETMarkets. Also Read | Buy Eternal & Swiggy, sell Nykaa & BSE: Latest investing mantra of mutual funds The firm sees opportunity in largecaps but remains selective in smallcaps, waiting for reasonably priced Mutual Fund maintains less than 5% cash across portfolios and relies more on internal allocation shifts between large, mid, and smallcap segments to manage valuation risk.'We don't want to mix asset allocation with stock selection. Our job is stock selection and not asset allocation. Asset allocation is how much money should I put into equities versus how much cash do I hold. That is typically best done by a distributor who knows the client's cashflow profile,' explained Trideep Bhattacharya, CIO – Equities at Edelweiss Mutual Direct's Pankaj Pandey also suggests against making large cash calls. "Generally, we do not suggest holding a proportion of cash because we have seen historically it is a very difficult call to take. For holding cash, you need luck to get prices at lower levels and most importantly, courage to deploy cash during such times,' he question remains whether these fund managers are displaying prudent risk management or missing out on continued market gains while sitting on the sidelines with their massive cash reserves. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
19-06-2025
- Business
- Time of India
Rs 58,000 crore cash lying idle in 5 mutual fund schemes. Are stocks too expensive to buy?
A growing pile of cash is making more noise than stock picks in some mutual fund houses. Five mutual fund schemes now hold Rs 58,442 crore in cash, accounting for a staggering 30% of the entire mutual fund industry's cash reserves. Out of a Rs 2 lakh crore industry-wide cash corpus, these five are sitting on the largest war chest. Parag Parikh Flexi Cap Fund tops the list with the highest cash pile of Rs 22,360 crore. SBI Contra Fund follows with Rs 10,028 crore, HDFC Flexi Cap with Rs 10,013 crore, Motilal Oswal Midcap with Rs 9,479 crore, and HDFC Mid-Cap Opportunities with Rs 6,562 crore, according to data from Elara Securities. That's not all. About 25% of the entire mutual fund industry's cash is concentrated in just four schemes, and half of it is held by only 18. What's more telling is that the cash hoarding has lasted over a year for many of them with experts saying it isn't a tactical timeout but a strategic positioning reflecting caution on current market valuations , especially in the mid and smallcap segments. 'Most of these schemes have maintained elevated cash levels for more than a year. Importantly, 25% of the incremental inflow over past 9-months have come in 12 schemes which have not got totally deployed in the market, raising cash levels,' said Elara's Sunil Jain. Live Events Also Read | Promoter, PE & VC selling crosses Rs 40,000 crore in 2 weeks: Red flag for Nifty bulls? The hesitation to buy in the secondary market despite a roaring rally hints at something deeper. 'The persistence of high cash balances over a long period—despite ongoing market strength—suggests that most of these fund managers are not likely to aggressively chase secondary market rallies. Rather than deploying cash in the secondary market, managers are channeling liquidity into the primary market. A large chunk of this paper supply has come from promoter divestments and PE exits, not new capital formation. This signals distribution, not expansion,' he said. Largecap schemes continue to show comfort in deploying funds with overall cash levels falling to Rs 16,500 crore from Rs 19,120 crore in April. But midcap schemes are showing signs of withdrawal. Cash levels in midcap funds have surged to 7.3%, the highest since 2020, fuelled by massive inflows into Motilal Oswal Midcap Fund. The total cash here is now Rs 29,900 crore, up from Rs 27,700 crore in April. Smallcap schemes have only slightly trimmed their cash stockpiles. At Rs 25,900 crore, they're just a notch below last month's Rs 25,250 crore. Overall, the mutual fund industry's active equity schemes collectively held Rs 2 lakh crore in cash in May, slightly down from Rs 2.06 lakh crore in April. Parag Parikh Mutual Fund leads in cash as a percentage of AUM—holding 21.3% in cash. Motilal Oswal is not far behind at 19.9%, according to Elara. For Parag Parikh, taking cash calls isn't new. The fund house's CIO Rajeev Thakkar, in an earlier note, had compared this approach to playing Test cricket—not swinging wildly, but waiting patiently for the right ball. For him, holding cash is less about timing and more about readiness—for the right price, the right stock, and the right pitch. 'Holding some amount of cash gives us the opportunity to deploy whenever a stock trades at attractive valuations to deploy. Investment opportunities do not come everyday across all companies and one has to wait to deploy money well,' Thakkar had said, adding that one shouldn't perceive it as market timing but rather waiting to deploy at the right valuation. For fund houses like Quantum AMC , which has around 12% cash in its portfolio, the elevated cash is not a tactical bet, but a result of a valuation-driven discipline. 'Given that markets, in aggregate, are perceived as expensive with fewer attractive opportunities, our cash levels naturally become slightly elevated. We are disciplined about adhering to our investment philosophy, which prioritizes value and long-term potential. When we find that the opportunities aligning with our rigorous selection criteria are not readily available at attractive valuations, we prefer to hold cash rather than deploy capital into overvalued assets. This approach ensures that we are positioned to capitalize on opportunities when they do emerge, rather than being forced to invest simply to deploy capital,' Chirag Mehta, CIO, Quantum AMC, told ETMarkets. Also Read | Buy Eternal & Swiggy, sell Nykaa & BSE: Latest investing mantra of mutual funds The firm sees opportunity in largecaps but remains selective in smallcaps, waiting for reasonably priced entries. Edelweiss Mutual Fund maintains less than 5% cash across portfolios and relies more on internal allocation shifts between large, mid, and smallcap segments to manage valuation risk. 'We don't want to mix asset allocation with stock selection. Our job is stock selection and not asset allocation. Asset allocation is how much money should I put into equities versus how much cash do I hold. That is typically best done by a distributor who knows the client's cashflow profile,' explained Trideep Bhattacharya, CIO – Equities at Edelweiss Mutual Fund. ICICI Direct's Pankaj Pandey also suggests against making large cash calls. "Generally, we do not suggest holding a proportion of cash because we have seen historically it is a very difficult call to take. For holding cash, you need luck to get prices at lower levels and most importantly, courage to deploy cash during such times,' he said. The question remains whether these fund managers are displaying prudent risk management or missing out on continued market gains while sitting on the sidelines with their massive cash reserves. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
