The Infotech Fund from Kothari Pioneer has added Ramco Industries to its portfolio for the month ended October 30, 1998. The NAV of the fund declined by 1.86 per cent against a drop of 5.41 per cent in the BL Technology Index. The fund has given a return of 3.51 per cent since inception on August 22, 1998. According to the fund manager, Ramco Industries has been added to the portfolio due to improved outlook for its ERP package.

The portfolio of the Rs 9-crore IT Fund comprises Satyam Computer, Infosys, NIIT, Mastek, BFL Software, Sierra Optima, Tata Infotech, Digital Equipment and Ramco. The top three holdings -Satyam, Infosys and NNIT - account for 46.45 per cent of the total assets.

As on October 30, 1998, the fund had total assets worth Rs 8.73 crore under management with total equity holdings at Rs 7 crore and the rest in money markets. KP Bluechip, the premier equity fund from the AMC, has seen its NAV drop by 5.92 per cent against the sensex fall of 9.34 per cent. The fund has bought into BFL Software and owns 3000 shares of the company which accounts for 1.54 per cent of the total assets, while it has reduced exposure to Satyam Computer to 9.88 per cent of the total assets. The stock, however, still continues to be the top holding. The fund has also increased its holding in FMCG major, Hindustan Lever. With 2500 shares of HLL, the stock now accounts for 3.93 per cent of the total assets. The fund has moved out of Smithkline Pharma which had a weightage of 2.73 per cent as on September 30, 1998.

Equities account for 91.82 per cent of the total exposure with a market value of Rs 9.36 crore. The totalassets, as on October 30, 1998, were Rs 10.20 crore with Rs 83.46 lakh in money market. According to the fund manager, the gloom that pervaded emerging markets is showing signs of changing and FIIs are once agin looking to invest in these markets.

``Although India has been relatively insulated from the turmoil abroad, the markets have been impacted due to industrial slowdown, FII/FI selling and absence of individual investors from equity markets. However, downside appears limited at current valuations although the government disinvestment plan may cap any significant upside in the short-term,'' he says.

In the case of Prima Plus, the fund managers are planning to add several beaten down stocks from te core sector to the portfolio. The fund has sold Wipro and Tata Infotech since ``the high price of these shares have made them relatively less attractive under current circumstances.'' The Rs 70.34 crore fund has a 98.8 per cent exposure to equities.

The fund has declined by 4.24 per cent against a 8.4per cent decline in S&P CNX 500. According to the fund manager, this has been possible due to its holdings like Mastek, Ramco, TVS Suzuki and Parry Confectionery ``The valuations of most topline stocks are at an historic low and present a good opportunity to buy for value investors,'' he adds.

Prima has added GE Shipping to its fold with a buy of 1 lakh shares and a weightage of 1.49 per cent as on October 30, 1998. The Rs 13.34 crore fund has a 98 per cent exposure to equities. The fund has dropped by 3.76 per cent against a 8.4 per cent decline in S&P CNX 500.

According to teh fund manager of KP Income Builder, long-term interest rates seem to be moving up slightly on expectation of higher industrial activity. The fund has a total assets of 41.62 crore, with Rs 35 crore (85 per cent) in debt and remaining in money markets. The average maturity of the portfolio is 1.71 with a yield to maturity of 14.45 per cent. The fund has bought into the debt paper of AgrEvo India which is third in the portfolio witha market value of Rs 2.98 crore (7.17 per cent).