Background: Sundaram BNP Paribas Asset Management Company Ltd., a fully owned subsidiary of Sundaram Finance. The AMC was started in 1996 as a joint venture between Sundaram Finance (61%) and Newton Investment Management (39%). Subsequent to the acquisition of Newton by US-based Mellon Financial Corporation, Sundaram Finance, in 2002, acquired the 39% stake of Newton in the AMC. The fund house manages assets worth Rs 10,574.26 crore in October 2008.
Sundaram BNP Paribas Select Midcap Fund (G) an open-ended diversified scheme launched in June 2002. The objective of the scheme is to achieve capital appreciation by investing in a diversified basket of midcap stocks. The unit NAV of the scheme was Rs 56.65 as on 25 November 2008.
Portfolio: The total net assets of the scheme decreased by Rs 314.38 crore to Rs 959.25 crore in October 2008.Sundaram BNP Paribas Select Midcap Fund (G) took fresh exposure to three new stocks in October 2008. The scheme has purchased 12.26 lakh units (1.41%) of GVK Power & Infrastructure, 4.76 lakh units (1.30%) of Siemens, 2.02 lakh units (0.17%) of Sesa Goa in October 2008.
The scheme completely exited from Bharat Petroleum Corporation by selling 3.60 lakh units (1.02%) in October 2008. Sector-wise, the scheme took fresh exposures to Power Generation And Supply at 1.41%, Electronics - Components at 1.30% in October 2008. Sector-Wise, the scheme did not exit completely from any sector in October 2008.
The scheme had highest exposure to Canara Bank with 19.73 lakh units (3.40% of Portfolio) followed by Bank of Baroda with 12.60 lakh units (3.18%), Nagarjuna Construction Company with 44.43 lakh units (2.91%), Indraprastha Gas with 26.35 lakh units (2.85%) among others in October 2008.
It reduced its exposure to Hero Honda Motors by selling 3.25 lakh units to 99612 units (by 2.12%), Monnet Ispat & Energy by selling 21871 units to 6.57 lakh units (by 1.39%), Hindustan Petroleum Corporation by selling 5.24 lakh units to 1.96 lakh units (0.98%), Madhucon Projects to 8.87 lakh units (0.69%) among others in October 2008.
Sector-wise, the scheme had highest exposure to Banks - Public Sector at 9.71% (from 4.76% in September 2008), followed by Construction at 8.27% (8.12%), Fertilizers at 6.17% (5.74%) and Pharmaceuticals - Indian - Bulk Drugs & Formulation at 3.76% (3.90%) among others in October 2008.
Sector wise, the scheme had reduced exposure to Automobiles - Motorcycles / Mopeds to 0.78% (by 2.12%), Refineries to 0.39% (by 2.00%), Steel - Sponge Iron to 1.03% (by 1.39%), and Sugar at 1.91% (by 0.76%) among others in October 2008. Performance: The scheme underperformed the category average over all the time periods. It outperformed the Sensex over most of the periods.
Over three-month period ended as on 26 November 2008, the scheme posted negative returns of 5.05% return underperforming negative category average of 3.05%. It underperformed the Sensex that posted negative returns of 2.70% during the same period.Since inception, the scheme posted negative return of 54.87% returns underperforming category average with negative returns of 51.40%.
Sundaram BNP Paribas Select Midcap Fund (G) an open-ended diversified scheme launched in June 2002. The objective of the scheme is to achieve capital appreciation by investing in a diversified basket of midcap stocks. The unit NAV of the scheme was Rs 56.65 as on 25 November 2008.
Portfolio: The total net assets of the scheme decreased by Rs 314.38 crore to Rs 959.25 crore in October 2008.Sundaram BNP Paribas Select Midcap Fund (G) took fresh exposure to three new stocks in October 2008. The scheme has purchased 12.26 lakh units (1.41%) of GVK Power & Infrastructure, 4.76 lakh units (1.30%) of Siemens, 2.02 lakh units (0.17%) of Sesa Goa in October 2008.
The scheme completely exited from Bharat Petroleum Corporation by selling 3.60 lakh units (1.02%) in October 2008. Sector-wise, the scheme took fresh exposures to Power Generation And Supply at 1.41%, Electronics - Components at 1.30% in October 2008. Sector-Wise, the scheme did not exit completely from any sector in October 2008.
The scheme had highest exposure to Canara Bank with 19.73 lakh units (3.40% of Portfolio) followed by Bank of Baroda with 12.60 lakh units (3.18%), Nagarjuna Construction Company with 44.43 lakh units (2.91%), Indraprastha Gas with 26.35 lakh units (2.85%) among others in October 2008.
It reduced its exposure to Hero Honda Motors by selling 3.25 lakh units to 99612 units (by 2.12%), Monnet Ispat & Energy by selling 21871 units to 6.57 lakh units (by 1.39%), Hindustan Petroleum Corporation by selling 5.24 lakh units to 1.96 lakh units (0.98%), Madhucon Projects to 8.87 lakh units (0.69%) among others in October 2008.
Sector-wise, the scheme had highest exposure to Banks - Public Sector at 9.71% (from 4.76% in September 2008), followed by Construction at 8.27% (8.12%), Fertilizers at 6.17% (5.74%) and Pharmaceuticals - Indian - Bulk Drugs & Formulation at 3.76% (3.90%) among others in October 2008.
Sector wise, the scheme had reduced exposure to Automobiles - Motorcycles / Mopeds to 0.78% (by 2.12%), Refineries to 0.39% (by 2.00%), Steel - Sponge Iron to 1.03% (by 1.39%), and Sugar at 1.91% (by 0.76%) among others in October 2008. Performance: The scheme underperformed the category average over all the time periods. It outperformed the Sensex over most of the periods.
Over three-month period ended as on 26 November 2008, the scheme posted negative returns of 5.05% return underperforming negative category average of 3.05%. It underperformed the Sensex that posted negative returns of 2.70% during the same period.Since inception, the scheme posted negative return of 54.87% returns underperforming category average with negative returns of 51.40%.
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