ZEE-Sony merger collapse: Mutual funds that have highest and lowest exposure to ZEE

livemint.com:

₹8,680 crore, which is less than one percent of the industry's total equity Assets Under Management (AUM), highlighted brokerage house Fisdom Research in a recent note. In the note, Fisdom Research has delved into the mutual fund landscape, examining which Asset Management Companies (AMCs) maintain Zee Entertainment in their portfolios and those that have chosen to remain underweight in the wake of these developments.

Notably, actively managed mutual funds display diversified holdings, with many opting for a conscious underweight position in the company over an extended period. In the report, the brokerage highlighted that out of the 42 AMCs, only 29 invested in ZEE, while the remaining 13 held a very small amount of the stock, with ICICI Mutual Fund holding the highest exposure to ZEE.

Among the 13 AMCs with very little exposure in ZEE, excluding Trust AMC, which exclusively deals in debt funds, 9 maintained no exposure to ZEE over the last 12 months and only 3 — Quant, LIC, and Shriram — maintained exposure, it added. Among these 3, Quant MF and LIC MF scaled back their exposures in July 2023, while Shriram AMC opted for a complete exit from the stock in April 2023, noted Fisdom.

It further observed that as of December 23, AMCs with the least amount invested in terms of market value include PGIM India MF with ₹1 crore, Union MF with ₹2 crore, and ITI MF with ₹3 crore. Meanwhile, the AMCs with the largest investments in terms of market value were ICICI MF with ₹1,751 crore, Nippon India MF with ₹1,362 crore, and HDFC MF with ₹1,211 crore, highlighted the brokerage.