Fund managers reshuffle portfolios in August, bet on auto, financials and IT counters

Fund managers leaned on stock-specific bets in August, shuffling aggressively within automobile, financials, IT and consumer names.

In auto, there was active switching across Maruti Suzuki, Mahindra & Mahindra, Hyundai, Hero MotoCorp and Bajaj Auto, while Escorts Kubota was added to the farm and tractor play.

In BFSI, fund managers rotated across non-banking finance companies (NBFCs) and small banks. Among larger banks, Kotak Mahindra and ICICI were bought. In consumer, fund houses bought Varun Beverages, while selling ITC and Hindustan Unilever.