Franklin Templeton Asset Management has decreased its investments from banking & financial services, media & entertainment and consumer durable space, while enhanced its exposure in oil & gas, food & beverages and information technology.
HDFC Warrants, JK Lakshmi Cement and Karur Vysya Bank were the top sells, while Idea Cellular, ONGC and HDFC were the top buys.
A study of the Franklin Templeton Asset Management portfolio for the month of May 2012 showed that in the banking & financial Services space, the fund sold Karur Vysya Bank, HDFC Bank, M&M Financial Services and exited from HDFC Warrants and Power Finance Corporation. However, it bought Axis Bank, Yes Bank and Bajaj Holdings in the same space. It also introduced Numero Uno Projects.
The fund sold TV18 Broadcast, DB Corp and Dish TV in the media & entertainment space. (View - All Bulk Deals by Mutual Funds).
It sold Bajaj Electricals and TTK Prestige in the consumer durable space.