Background: Life Insurance Corporation of India set up LIC Mutual Fund in June 1989. LIC Mutual Fund was constituted as a Trust in accordance with the provisions the Indian Trust Act, 1882. This trust has appointed Jeevan Bima Sahayog Assets Management Company Ltd. as the Investment Managers for LIC Mutual Fund in April 1994. The fund house manages assets worth Rs 32414.92 crore at the end of June 2009.
LIC Mutual Fund Equity Fund (G) is an open-ended equity diversified scheme launched in January 1993. The objective of the scheme is to obtain maximum possible capital growth consistent with reasonable level of safety and security by investing mainly in equity.
The minimum investment amount is Rs.2000 and in multiples of Rs.1000 thereafter. The unit NAV of the scheme was Rs 22.21 per unit as on 21 July 2009.
Portfolio: The total net assets of the scheme increased by Rs 1.88 crore to Rs 98.26 crore in June 2009.
LIC Mutual Fund Equity Fund (G) took fresh exposure to seventeen stocks in June 2009. The scheme has purchased 2.50 lakh units (3.84%) of Steel Authority of India, 59126 units (2.86%) Tata Communications, 10000 units (1.52%) of HDFC Bank and 30000 units (1.44%) of Siemens among others.
The scheme did not exit completely from any stock in June 2009.
Sector-wise, the scheme took fresh exposures in Steel-Large at 3.84%, Pharmaceuticals-Indian-Bulk Drugs & Formulation at 2.32%, Electronics-Components at 1.44% and Trading 0.94% among other in June 2009. Sector-wise, the scheme did not exit completely from any sector in June 2009.
The scheme had highest exposure to Larsen & Toubro with 41486 units (6.62% of portfolio size) followed by Housing Development Finance Corporation with 25000 units (5.97%), Bharat Heavy Electricals with 25000 units (5.61%) and Reliance Industries with 25000 units (5.15%) among others in June 2009.
It reduced its exposure from Reliance Petroleum by selling 3 units to 1.50 lakh units (by 0.32%), Reliance Infrastructure to 29301 units (0.31%), Religare Enterprises to 24999 units (0.24%) and Provogue (India) by selling 6 units to 1.02 lakh units (0.23%) among others in June 2009.
Sector-wise, the scheme had highest exposure to Power Generation and Supply at 13.73% (from 10.06% in May 2009), followed by Banks-Public Sector at 8.72% (5.78%), Banks-Private Sector at 8.35% (6.70%) and Refineries at 7.88% (6.73%) among others in June 2009.
Sector wise, the scheme had reduced exposure from Textiles-Products to 0.51% (by 0.23%), Finance & Investments to 1.64% (by 0.20%), Construction to 4.49% (by 0.14%) and Chlor Alkali/Soda Ash to 0.89% (by 0.06%) among others in June 2009.
Performance: The performance of scheme is benchmarked against BSE Sensex. The scheme has underperformed the benchmark index over most of the time periods.
The scheme has posted returns of 3.46% underperformed the BSE Sensex that grew 3.72% over 1 month period ended 21 July 2009.
Over 3 months period, the scheme advanced by 37.98% underperformed the BSE Sensex that gained 38.21%. It rose by 10.80% outperformed the benchmark index that was up by 8.75% over 1 year period.
LIC Mutual Fund Equity Fund (G) is an open-ended equity diversified scheme launched in January 1993. The objective of the scheme is to obtain maximum possible capital growth consistent with reasonable level of safety and security by investing mainly in equity.
The minimum investment amount is Rs.2000 and in multiples of Rs.1000 thereafter. The unit NAV of the scheme was Rs 22.21 per unit as on 21 July 2009.
Portfolio: The total net assets of the scheme increased by Rs 1.88 crore to Rs 98.26 crore in June 2009.
LIC Mutual Fund Equity Fund (G) took fresh exposure to seventeen stocks in June 2009. The scheme has purchased 2.50 lakh units (3.84%) of Steel Authority of India, 59126 units (2.86%) Tata Communications, 10000 units (1.52%) of HDFC Bank and 30000 units (1.44%) of Siemens among others.
The scheme did not exit completely from any stock in June 2009.
Sector-wise, the scheme took fresh exposures in Steel-Large at 3.84%, Pharmaceuticals-Indian-Bulk Drugs & Formulation at 2.32%, Electronics-Components at 1.44% and Trading 0.94% among other in June 2009. Sector-wise, the scheme did not exit completely from any sector in June 2009.
The scheme had highest exposure to Larsen & Toubro with 41486 units (6.62% of portfolio size) followed by Housing Development Finance Corporation with 25000 units (5.97%), Bharat Heavy Electricals with 25000 units (5.61%) and Reliance Industries with 25000 units (5.15%) among others in June 2009.
It reduced its exposure from Reliance Petroleum by selling 3 units to 1.50 lakh units (by 0.32%), Reliance Infrastructure to 29301 units (0.31%), Religare Enterprises to 24999 units (0.24%) and Provogue (India) by selling 6 units to 1.02 lakh units (0.23%) among others in June 2009.
Sector-wise, the scheme had highest exposure to Power Generation and Supply at 13.73% (from 10.06% in May 2009), followed by Banks-Public Sector at 8.72% (5.78%), Banks-Private Sector at 8.35% (6.70%) and Refineries at 7.88% (6.73%) among others in June 2009.
Sector wise, the scheme had reduced exposure from Textiles-Products to 0.51% (by 0.23%), Finance & Investments to 1.64% (by 0.20%), Construction to 4.49% (by 0.14%) and Chlor Alkali/Soda Ash to 0.89% (by 0.06%) among others in June 2009.
Performance: The performance of scheme is benchmarked against BSE Sensex. The scheme has underperformed the benchmark index over most of the time periods.
The scheme has posted returns of 3.46% underperformed the BSE Sensex that grew 3.72% over 1 month period ended 21 July 2009.
Over 3 months period, the scheme advanced by 37.98% underperformed the BSE Sensex that gained 38.21%. It rose by 10.80% outperformed the benchmark index that was up by 8.75% over 1 year period.
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