MF schemes most impacted by fall in Sun Pharmaceuticals
DSIJ IntelligenceCategories: MF Unlocked
Shares of the pharma major Sun Pharmaceutical tanked by 10 per cent in early trade on Friday. Read on to find the MF schemes that are most impacted by this fall.
The share price of Sun Pharma was reacting to a whistle-blower complaint made to the Securities and Exchange Board of India (SEBI) against Sun Pharma. The first complaint was filed in the month of September 2018. Since the first complaint was filed shares of the company have witnessed a fall by around 37 per cent. If we look at the past incidence of such corporate governance issue with other companies we see there is very less chance for the company’s share to revive anytime soon. Many mutual funds may be holding this stock and will witness a fall in their NAV depending upon the company’s weight in the fund. So let’s find out which mutual funds hold Sun Pharma.
As per the December 2018 data, 303 mutual funds held Sun Pharma. Below are the top 5 funds that are heavily invested in Sun Pharma.
| Fund Name | Fund Manager | AUM (in cr) | % of AUM |
| UTI Healthcare Fund | V. Srivatsa | 433.4 | 13.73 |
| Mirae Asset Healthcare Fund | Vrijesh Kasera | 314.94 | 11.45 |
| Reliance Pharma Fund | Sailesh Raj Bhan | 2682.96 | 10.11 |
| ICICI Pru Pharma Healthcare & Diagnostics (P.H.D) Fund | Ihab Dalwai | 1468.28 | 9.68 |
| ICICI Pru Focused Equity Fund | Mrinal Singh | 619.9 | 9.04 |
UTI Healthcare Fund, Mirae Asset Healthcare Fund, Reliance Pharma Fund and ICICI Pru Pharma Healthcare & Diagnostics (P.H.D) Fund were the net buyers of Sun Pharma since September 2018. However, ICICI Pru Focused Equity Fund has not changed its stance since September 2018. They neither bought nor sold.
If we see the performance of the above-mentioned funds, then UTI Healthcare, Mirae Asset Healthcare, Reliance Pharma, ICICI Pru P.H.D and ICICI Pru Focused Equity have fell by 10 per cent, 4 per cent, 6 per cent, 7 per cent and 8 per cent, respectively, since September 2018.