Sectoral games that mutual funds play

The table shows how top 10 fund houses by equity AUM as on August 31 have positioned their sector portfolios.

The first column mentions the weight of a sector in CNX 100 index.

Subsequent ones mention the name and allocation of the fund houses that have the highest over-weight or the lowest underweight for that sector. For example, FMCG has 11.76% weight in CNX 100 index. IDFC MF has invested 29.32% of its assets and is overweight on this sector. Franklin Templeton MF at the other extreme invests only 5.76% of its money in this sector. A fund invests more in a sector as compared to its weight when it is bullish on the same.