A sharp fall in the most-owned stocks by mutual funds has begun to hurt the performance of equity schemes. The top-10 counters in fund managers' portfolio are HDFC Bank, Infosys, ICICI Bank, Larsen & Toubro (L&T), Axis Bank, State Bank of India (SBI), Maruti Suzuki, Reliance Industries, IndusInd Bank and Sun Pharmaceutical.
On an average, these stocks have seen a value erosion of nearly 10% so far this year. This has impacted he net asset value (NAVs) of equity schemes. Nearly a fourth of the total equity assets under management (AUM) are in the top-10 stocks.
