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Aditya Birla Sun Life AMC Limited

Aditya Birla Sun Life AMC Limited

    • Equity Outlook Monthly Update - June 2018

    Jul 27, 2018
    4 mins
    4 Rating

    • Discussions in this month were centred around OPEC allies meeting to increase crude production.
    • India’s trade deficit has increased and the currency is seeing a sharp depreciation.
    • Domestically, on the much-anticipated MSP price increase, weighted averageMinimum Support Price(MSP) price increase is announced at 14.5% for the Kharif crops, largely in line with street expectations.
    • Coming to the equity market view, while broad indices like Nifty and Sensex was flat during the month, mid and small caps continue to bleed.

    Outlook
    • For the first time in four years, earnings haven’t been downgraded and there is a high probability of earnings recovery after a 5-year stagnation. Sustainable earnings growth will support and drive the market

    Source: Bloomberg, ABSLAMC Research

    Portfolio Action
    • Aditya Birla Sun Life Equity Advantage Fund (An open ended equity scheme investing in both large cap and mid cap stocks):)

      We continue be over weight on private sector banks which would grow at a higher rate compared to their PSU counterparts owing to stable asset quality and availability of capital. Exposure to an Indian conglomerate holding companywas increased as it will benefit from its consumer oriented focus.
    • Aditya Birla Sun Life Equity Fund (An open ended equity scheme investing across large cap, mid cap, small cap stocks):

      Recent market correction has provided an opportunity for us to look at quality mid and small caps which have robust earnings outlook. The fund maintains its cautious stance on the markets and continues to look for value in order to deploy cash.
    • Aditya Birla Sun Life Midcap Fund (An open ended equity scheme predominantly investing in midcap stocks):

      We are overweight on private sector retail banksowing to its stable asset quality and high return ratios. We also continue to remain overweight on gas companieswhich are growing at double digit rate owing to rising gas consumption as an alternative fuel.
     
    The Scheme(s) may or may not have any present or future positions in these sectors
     
    Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
     

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