MFs most impacted by Vedanta losing shine
Vedanta has been one of the favourite stocks of mutual fund managers. Post its results announcement, the stock saw a steep fall on Friday. The share price of Vedanta, a Anil Agarwal group company engaged in mining, fell by almost 18 per cent.
The company posted a weak set of earnings for its December quarter. The consolidated net profit of the company dropped by 26 per cent on yearly basis to Rs. 1,574 crore for Q3FY19 due to lower commodity price and disruption in its copper smelter operation at Tamil Nadu.
What is also dragging the share price of the company is a transaction where Vedanta's subsidiary Cairn India bought a stake of Rs. 1,431 crore in an investment firm Volcan Investments, which is a family trust of the promoter.
There are more than 200 mutual fund schemes (including closed-ended) that are holding shares of Vedanta. The interesting part is that it has been increasing continuously since October 2018.
Top 10 funds that will get impacted due to this sharp fall in the share price of Vedanta are as follows:
| Fund Name | Fund Manager | AUM (in Rs cr, Dec 18) | % of AUM (Dec-18) | NAV Impact |
| ICICI Pru Value Fund-19(G) | Sankaran Naren | 1850.04 | 8.23 | 1.40% |
| ICICI Pru Value Fund-13(D) | Sankaran Naren | 698.59 | 7.36 | 1.30% |
| ICICI Pru Value Fund-12(D) | Sankaran Naren | 682.87 | 6.03 | 1.00% |
| ICICI Pru Multi-Asset Fund(G) | Sankaran Naren | 11079.94 | 5.47 | 0.90% |
| DSP Natural Res & New Energy Fund-Reg(G) | Rohit Singhania | 402.03 | 5.41 | 0.90% |
| ICICI Pru India Recovery Fund-5(G) | Atul Patel | 75.79 | 5.34 | 0.90% |
| ICICI Pru Value Fund-9(G) | Sankaran Naren | 275.9 | 5.09 | 0.90% |
| ICICI Pru Infrastructure Fund(G) | Sankaran Naren | 1258.79 | 4.61 | 0.80% |
| HDFC Focused 30 Fund(G) | Vinay R. Kulkarni | 458.12 | 4.28 | 0.70% |
| UTI Focussed Equity Fund-I(G) | Sachin Trivedi | 89.99 | 4.22 | 0.70% |