CHENNAI, OCT 3: Infotech and pharmaceutical stocks have replaced those of public sector companies in the revised portfolio holding of India's first mutual fund, Mastershare, started by government-owned Unit Trust of India (UTI).Shares of public sector companies have come down to 11.3 per cent in terms of market value in the top 75 per cent of Mastershare's portfolio as on September 1, 1999, compared to 21.2 per cent a year ago, company sources told PTI here. While as many as five public sector undertakings (PSUs) figured among the top 15 companies in the portfolio last year, there are only two left in the revised list, which saw market favourite infotech stocks make a maiden entry.
In terms of sector-wise exposure, the revised portfolio has 8.3 per cent holding in information technology with 3.25 per cent stocks of market leader Infosys Technology and 2.84 per cent of software education giant NIIT with a 0.66 per cent share of Satyam Computers stocks.
``As on September 1, 1999, the top 25 holdings inthe revised portfolio of Mastershare account for 66% of the total market value of the portfolio, and 37 of the holdings make up for 75% of the total market value,'' the sources said.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.