What India’s Largest Large-Cap Funds, Including ICICI Prudential, Nippon India and HDFC, Bought and Sold in May

Large-cap mutual funds continued to attract investor inflows in May, although the pace moderated compared to the previous month. According to AMFI data, the category received net inflows of ₹1,593 crore during the month, lower than ₹2,525 crore recorded in April. 

Gross inflows stood at ₹5,050 crore, while the category's assets under management (AUM) crossed ₹3.97 lakh crore. 

Portfolio disclosures of the three largest recipients of fresh inflows, ICICI Prudential Large Cap Fund, Nippon India Large Cap Fund and HDFC Large Cap Fund, show that each fund manager adopted a different investment strategy during the month. 

What Did ICICI Prudential Large Cap Fund Buy and Sell in May? 

ICICI Prudential Large Cap Fund received the highest inflows in the category, attracting ₹2,005 crore during May and taking its AUM to ₹76,297 crore. 

The fund added Britannia Industries, Grasim Industries, Kotak Mahindra Bank and TVS Motor Company to its portfolio while exiting Ashok Leyland, Aurobindo Pharma, Bank of Baroda and Gillette India. 

The scheme held 92 stocks, making it the most diversified among the three funds. Its top 10 holdings accounted for 49.47% of assets. The fund also maintained the highest cash allocation at 5.25% and reported a turnover ratio of 82%. 

The scheme delivered a 5-year annualised return of 12.36%, while its 1-year return stood at -5.9%. 

Stocks Added by Nippon India Large Cap Fund in May 

Nippon India Large Cap Fund received net inflows of ₹994 crore during May. 

The fund added Bharti Airtel, Hindustan Aeronautics and Jubilant FoodWorks to its portfolio without exiting any existing holdings. 

It maintained a cash allocation of just 0.25%, indicating that most of the fresh inflows were deployed into equities. The fund held 70 stocks, while its top 10 holdings accounted for 43.8% of assets, the lowest concentration among the three schemes. 

Its turnover ratio stood at 33%, and the fund generated a 5-year annualised return of 14.05%. 

HDFC Large Cap Fund Portfolio Changes in May 

HDFC Large Cap Fund attracted net inflows of ₹316 crore during May but did not make any additions or exits from its portfolio. 

The fund continued with its existing investment strategy despite market volatility. 

The scheme held 47 stocks, the smallest portfolio among the three funds. Its top 10 holdings accounted for 51.33% of assets, making it the most concentrated portfolio in the comparison. The fund maintained a cash allocation of 2.17% and reported a turnover ratio of 27.86%. 

It delivered a 5-year annualised return of 10.95%, while its 1-year return stood at -6.27%. 

Read More: Kotak Mutual Fund launches first SIF with hybrid long-short strategy 

Three Large-Cap Funds, Three Different Strategies 

The May portfolio data highlights the different approaches adopted by fund managers despite operating within the same large-cap category. 

ICICI Prudential actively reshaped its portfolio with multiple additions and exits while maintaining a relatively higher cash position. Nippon India selectively introduced new holdings and remained almost fully invested, whereas HDFC Large Cap Fund chose not to make any portfolio changes during the month. 

The comparison also shows notable differences in diversification levels, cash allocation, and portfolio turnover, indicating that fund managers can follow distinct investment strategies even within the same mutual fund category.  

Conclusion 

Large-cap mutual funds continued to witness positive inflows in May, although the pace slowed compared to April. Portfolio disclosures show that ICICI Prudential, Nippon India and HDFC Large Cap Funds adopted distinct investment approaches, reflecting different strategies for deploying fresh capital and managing their portfolios. 

Want to read stock market updates in Hindi? Angel One News gives comprehensive share market news in Hindi.   

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.  

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.