10 stock picks of fund managers

Mutual Funds in November uploaded stocks like Indian Hotels and stocks in Construction & Engineering space. Tilkanagar Industries - the Indian made foreign liquor maker and a strong south bound player was second in the list in terms of number of shares added, according to report released by Religare Securities.

Mining stocks were in the crosshairs of the Fund managers on the back of big bang listing of Coal India. As many as 5 AMCs added Coal India. Electric Utilities also got top billing from fund houses. Power Grid was bought by 6 AMCs.

Top 10 most bought stocks by MF in November

Coal India (24 mn shares)

Tilaknagar Industries (2.89 mn shares)

TVS Motor Co (2.66 mn shares)

Power Grid Corporation of India (2.31 mn shares)

Texmaco Rail & Engineering (1.67 mn shares)

Chambal Fertilisers & Chemicals (1.15 mn shares)

Indian Hotels Co (0.93 mn shares)

Himadri Chemicals & Industries (0.85 mn shares)

Gammon Infra (0.82 mn shares)

JaiPrakash Associates (0.74 mn shares)

Top 5 sector exposures

Banks (11%)

Petroleum, Gas and petrochemical products (9%)

Engineering and Capital Goods (7%)

Auto & Auto Ancillaries (6%)

Steel and Ferrous Metal (6%)

Kotak Mahindra Mutual Fund announces conversion of its scheme into open ended

Kotak Mutual Fund has announced the conversion of it scheme - Kotak Indo World Infrastructure Fund, a three year close ended equity scheme into an open ended equity scheme, with effect from 27th January, 2011. There will be no changes to any other fundamental features of the scheme on being converted into open ended scheme except that scheme is converted from close ended to open ended scheme. The scheme will charge an exit load of 1 per cent if exited within 1 year from the date of allotment of units and nil if exited after 1 year from the date of allotment of units. The unitholders of the scheme who are not in agreement with the conversion may redeem their units at applicable NAV or switch to other open ended schemes of Kotak Mutual Fund without payment of exit load between 25th December, 2010 and 25th January, 2011.

Source: http://www.mutualfundsindia.com/news_viwe.asp?news_headline=Kotak+Mahindra+Mutual+Fund+announces+conversion+of+its+scheme+into+open+ended@MF037