HDFC Bank, Infosys among 5 major additions by ICICI Prudential MF in January; BCG, Saregama India among new entrants

ICICI Prudential Mutual Fund, second largest only after SBI Mutual Fund in terms of asset under management (AUM) and number of schemes under its belt, made two major additions in HDFC Bank and HDFC Ltd in the month ended January2022.  

The mutual fund house bought Rs 12.13bn worth of HDFC Bank shares and spent Rs 3.87bn on HDFC Ltd stock, as per Edelweiss Fund Insight (EFI). Other major additions of ICICI Prudential MF were Infosys, Reliance Industries and HCL Technologies.  

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At Rs 4,438 crore, ICICI Prudential Mutual Fund total spending on equities jumped by 2.78% month-on-month in January. The fund house has bought equities worth Rs 4,318 crore in December 2021.  

Source Edelweiss: Major additions (L), reductions (R)

ONGC, Axis Bank, Hindalco, State Bank of India and Maruti Suzuki were the stocks where the fund house was seen offloading in January.  

In January, ICICI Prudential Mutual Fund took fresh position in Kennametal India, Brightcom Group, Saregama India and Punjab & Sind Bank, while the MF made a complete exit from recently listed PB Fintech, Tega Industries, CE Infosystems and Data Patterns in January.  

Source Edelweiss: New entrants (L) and complete exit (R)

Among the top 10 holdings, the MF house has maximum exposure in ICICI Bank, followed by Infosys, Bharti Airtel and HDFC Bank.    

Source Edelweiss: Top 10 holdings 

As of January 31, 2022, ICICI Pru has an AUM of Rs 4,87,665 crore and runs 138 schemes, as per Stock Edge. This is only second to SBI Mutual Fund, which has an asset size of Rs 644,390 crore and 143 current schemes.  

In terms of return in the last one year, at 58% return, ICICI Pru Commodities Fund (G) is the most successful scheme of the fund house