Mutual funds news: Since the US-based short-seller Hindenburg published a report questioning the finances of the Adani group, companies of the group have lost heavily. Not just that, Adani group chairman Gautam Adani’s name is reportedly out of Forbes’ top 10 richest person list.
And now, most fund funds investors are wondering whether their mutual funds or schemes have investments in Adani stocks. And the answer is a yes. According to ETMutualFunds, who looked at data, several mutual funds had investments in the Adani Group companies such as Adani Enterprise, Adani Green Energy, Adani Ports & Special Economic Zone (SEZ), Adani Power Ltd., Adani Total Gas., Adani Transmission, Adani Wilmar, Ambuja Cement, and ACC Ltd.
Ambuja Cement had the highest holding of around Rs 8,204.01 in terms of mutual funds, followed by Rs 7,996.16 crore in Adani Ports & Special Economic Zone (SEZ), and Rs 5,097.67 crore in Adani Enterprise, ET reported. For the unversed, mutual funds report their portfolios for the previous month, the latest data available is for December 2022.
Data shows that SBI Mutual Fund had the highest exposure of Rs 6,142 crore in Adani group, followed by UTI Mutual Fund with around Rs 2,333.26 crore exposure. SBI Mutual Fund’s highest exposure was in Adani Enterprises, followed by Adani Ports and Special Economic Zone (Rs 1816.40 crore).
Some other mutual funds that invested in Adani group (Source: ACE MF, Data as on December 2022)
SBI Mutual Fund – Rs 6,142 crore (market value), no. of shares – 47,542,283
UTI Mutual Fund – Rs 2,333.26 crore (market value), number of shares – 19,790,082
Kotak Mutual Fund – Rs 2,329.22 crore (market value), number of shares – 27,591,979
Nippon India Mutual Fund – Rs 2,095.40 (market value), number of shares – 23,681,983
ICICI Prudential Mutual Fund – Rs 2,091.58 (market value), number of shares – 21,369,599
HDFC Mutual Fund – Rs 1,589.94 (market value), number of shares – 22,150,296
Tata Mutual Fund – Rs 1,549.01 (market value), number of shares – 17,676277
Quant Mutual Fund – Rs 1,276.16 crore, no. of shares – 19,579,686
Axis Mutual Fund – Rs 1,122.17 crore, no. of shares – 13,187,729
Aditya Birla Sun Life Mutual Fund – Rs 912.41 cr, no. of shares – 10,027,314
DSP Mutual Fund – Rs 835.52 cr, no. of shares -7,515,756
Motilal Oswal Mutual Fund – Rs 760.81 cr, no. of shares – 13,858,639
Mirae Asset Mutual Fund – Rs 694.83 cr, no. of shares – 12,559,725
Edelweiss Mutual Fund – Rs 354.26 cr, no. of shares – 5,447,077
IDFC Mutual Fund – Rs 348.76 cr, no. of shares – 4,144,989
READ | Adani FPO pullout will have no impact on perception about India: FM Sitharaman
A mutual fund is a company that pools money from many investors and invests the money in securities such as stocks, bonds, and short-term debt. Recently, Adani Group decided to withdraw Adani Enterprises Rs 20,000 crore FPO to protect investors from potential losses, the company said.