Mumbai: Even in the volatile equity markets, some equity schemes of mutual funds are surpassing their benchmark indices. Fund managers say this has been got by proactive churning of portfolios. This mitigates the downside risks associated with sectors that are getting impacted by higher interest rates, commodity prices and inflation. Equity funds are increasing their exposure to healthcare, telecom services or consumer non-durables, as they see them as safe bet. HSBC Equity Fund (HEF) has given a CAGR of 56.25 per cent compared to 43.40 per cent for BSE 200, for the last five years. HEF has decreasted exposure to certain sectors like automobile to insignificant levels, cement, media & entertainment in June 2008 compared with December 2007. At the same time, HEF increased exposure to pharmaceuticals consumer non-durables, petroleum products and telecom services during the past six months.
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