The fund, which is a part of American Funds owned by investment management firm Capital Group, has Reliance Industries as its third largest stock holding at 3.12 per cent. HDFC Bank stood at 1.4 per cent of total assets, as per the March quarter factsheet.
Kotak Mahindra Bank accounted for 0.83 per cent of its holding, Bharti Airtel 0.7 per cent, ICICI Bank 0.43 per cent, Bajaj Finserv 0.29 per cent, and Avenue Supermarts at 0.19 per cent.
The fund also holds 0.24 per cent of its assets in HDFC Bank ADR, 0.17 per cent each in Maruti Suzuki India and HDFC Life Insurance, and 0.15 per cent of its holding in Bajaj Finance.
As the name suggests, the fund’s prime focus is Europe, with 47 per cent assets. But its exposure to India as percentage of its net assets was significant at 7.7 per cent as of March 31, according to the fund’s website.
In total, it had 400 stocks in its portfolio, as per the latest factsheet. Non-US assets accounted for 86.6 per cent of this fund’s assets, US stocks accounted for 3.6 per cent of its asset mix while as high as 9.8 per cent of the fund’s assets were in cash or cash equivalent.
The fund owned over 1 per cent stake in eight domestic stocks, as per the data compiled with Trendlyne.
The fund owned 2.25 per cent stake in RIL in the March quarter, which amounted to Rs 38,477 crore, as per Trendlyne data. In HDFC Bank, the fund owned 2.14 per cent stake, which is valued at Rs 12,838 crore. In Kotak Mahindra Bank, it owned Rs 10,824 crore worth shares. Bharti Airtel (Rs 8842 crore), ICICI Bank (Rs 5,218 crore), Bajaj Finserv (Rs 2,908 crore), HDFC Life (Rs 2,243 crore) and Godrej Consumer (Rs 787 crore).