This equity mutual fund delivered highest returns in April. Know what it bought and sold in the month?

This equity mutual fund delivered highest returns in April. Know what it bought and sold in the month?

HDFC Defence Fund-Reg(G), which was a top performer among the equity mutual fund schemes in April with returns of 12.56%, added three new stocks to its portfolio in the month gone by. These were Garden Reach Shipbuilders & Engineers, JNK India and Mazagon Dock Shipbuilders. Meanwhile, the scheme increased its holding in seven stocks while slashing in three.

According to Ace Equities data analysed by ETMarkets, HDFC Defence Fund bought 4.8 lakh shares or 1.76% in Garden Reach Shipbuilders. In multibagger Mazagon Dock Shipbuilders and smallcap JNK India, this fund purchased 1,55,901 (1.36%) and 4,96,367 (1.28%) shares, respectively. The market value of these shares at the end of April 30, 2024, stood at Rs 47.47 crore, 36.62 crore and 34.47 crore, respectively.

Stocks in which HDFC Defence Fund increased stake in April included Avalon Technologies, Bharat Electronics, Cyient DLM, Ideaforge Technology, MTAR Technologies, Premier Explosives and Rishabh Instruments.

There were three stocks in which HDFC Defence Fund pared its shares partially — BEML, Bharat Dynamics and Data Patterns (India).

Meanwhile, there were 9 stocks which did not see any change in holding in the month gone by over February. These are Astra Microwave Products, DCX Systems, Hindustan Aeronautics (HAL), Interglobe Aviation, Power Mech Projects, Solar Industries India, TD Power Systems, Techno Electric & Engineering Company and The Anup Engineering.

HDFC Defence Fund is an open-ended equity scheme investing in defence and allied sector companies. It has exposure in 21 stocks, of which two are largecaps, one is midcap and remaining 18 are smallcaps. In these 21 counters, 8 are PSU stocks while 13 are private sector companies.

The scheme was launched in June 2023 with assets under management (AUM) at Rs 2,696.26 crore. Its highest holding is in HAL and is followed by Solar Industries, BEML and Premier Explosives.

HDFC Defence Fund has given returns of over 15% in the last three months while its 6-month returns stand at Rs 46%. It is benchmarked against Nifty India Defence Index TRI.

(Inputs from Surbhi Khanna)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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