HDFC Mutual fund purchased 16.3 crore shares of troubled private sector lender Yes Bank in July. It is interesting to note that as the position of Yes Bank has stabilized, LIC and HDFC Mutual Fund have acted quickly to buy Yes Bank stock at attractive valuations. Yes Bank declined to Rs 12 from Rs 28 during July as the bank raised Rs 15,000 crore from FPO. The major decline was due to Yes Bank selling shares at Rs 12 during FPO.

Other stocks purchased by Prashant Jain of HDFC Mutual Fund for different mutual fund schemes include Tech Mahindra, Wipro, Jindal Steel and Sun Pharmaucetical. Major investment was made in Wipro by purchasing 1.15 crore shares, followed by 25 lakh shares of Tech Mahindra.

Prashant Jain is known for his long term bets that have played really well for investors in HDFC Mutual Fund. The short term performance could be low but in long term, the funds managed by Jain have delivered really well. HDFC Top 100 Fund is a large cap scheme and HDFC Equity Fund is a multi cap scheme managing assets worth ₹16,202 crore and ₹19,150 crore respectively.

As per a report published by Dolat Capital, HDFC Mutual Fund sold Vodafone Idea (1.1 crore shares), public sector bank Punjab National Bank (1.1 crore shares), Reliance Industries (75 lakh shares), Bharti Infratel (69 lakh shares) and Bharat Petroleum Corporation (43 lakh shares).