INSUBCONTINENT EXCLUSIVE:
NEW DELHI: This $164 billion fund owns roughly Rs 80,000 crore worth of Indian shares, making it the largest foreign portfolio investor
(FPI) in India.
Private lender HDFC Bank (fourth), Reliance Industries (sixth), Kotak Mahindra Bank (14th) are a few Indian stocks, which
were among its top 25 holdings in value terms as of June 30.
A part of American Funds, owned by investment management firm Capital Group,
this is EuroPacific Growth Fund.
As the name suggests, the fund focuses mainly on Europe, but its exposure to India as percentage of its net
crore.
PortfolioThe US-based fund hiked stake in HDFC Bank, TVS Motor, UltraTech Cement and State Bank of India in June quarter while
trimming its exposure to Grasim Industries and Eicher Motors, June quarter shareholding data showed.
Data suggests the fund held
10,70,36,464 shares, or 5.02 per cent stake, in HDFC Bank as of June 30, against 9,88,65,874 shares, or 4.66 per cent stake, it held as of
This 5.02 per cent stake alone was worth roughly Rs 29,000 crore.
In case of TVS Motor, the fund increased its exposure to 3.12 per cent at
the end of June quarter from 2.74 per cent at the end of March quarter and 2.68 per cent at the end of December quarter, Ace Equity data
showed.
At a time when there were concerns over the health of public sector lenders, this fund bought 49,22,000 additional shares in SBI to
raise its holding to 1.17 per cent from 1.12 per cent
In UltraTech Cement, it hiked its stake to 1.15 per cent from 1.03 per cent
Calendar 2018 has not panned out well for emerging markets, thanks to the onset of Sino-US trade war, rise in crude oil prices and concerns
India, too, has been at the receiving end
The country has seen outflow of portfolio money worth Rs 6,430 crore in the first six months of the year.
Despite this, the equity indices
have hit new highs, as money continued to chase the largecaps
Thus, a look at what the biggest FPIs are doing is noteworthy.
Ace Equity data suggests EuroPacific Growth Fund cut its holding from 2.37
per cent to 2.20 per cent in Eicher Motors and from 2.41 per cent to 1.61 per cent in Grasim Industries, sequentially, in June
quarter.
During the quarter, the fund maintained its holding at 3.38 per cent in Reliance Industries, 1.25 per cent in ACC, 2.65 per cent in
Ambuja Cements, 2.66 per cent in Axis Bank, 1.89 per cent in HDFC, 4.94 per cent in Kotak Mahindra Bank, 1.34 per cent in Mahindra Mahindra
and 1.59 per cent Motherson Sumi.
This list may grow when more companies report their shareholding patterns in the days to come
