Allahabad Bank Stocks May Have An Effect On MF Schemes

Share prices of Allahabad Bank were down by 2.57% to Rs. 89 reported at BSE at 11.02 a.m. on 6 August 2007 against previous day close of Rs. 91.35. Birla Sun Life Long Term Advantage Fund - Sr.1 (G) is likely to loose as it has the highest percentage hold of the stocks of the bank compared to its peer groups who have invested in the stocks of the bank. Birla Sun Life Long Term Advantage Fund - Sr.1 (G) has 3.03% of its total portfolio size invested in the stocks of the bank as on 31 July 2007. The scheme holds 13 lakh share units of the bank in July 2007 compared to its peer groups who have invested in the stocks of the bank.

It is followed by Reliance Banking Fund - (Bonus) (2.73% of its portfolio), JM Arbitrage Advantage Fund (G) (2.23%) as on July 2007. However the scheme like Taurus Starshare is likely to benefit as it sold 32163 units and holds 52056 units as on July 2007 as compared to 84219 units hold in June 2007.