Amid a massive rally in chipmaker Nvidia shares, around Rs 1,700 crore of mutual fund money from Indian investors is riding on the Wall Street's favourite stock. A number of passive funds from India are invested in Nvidia while there are only 2 active funds invested in the AI stock.
Motilal Oswal had the highest exposure of around Rs 439 crore in Nvidia. Mirae Asset Mutual Fund and Franklin Templeton Mutual Fund had exposure of around Rs 200 crore, January month data collated by Fisdom Research shows.
Bandhan Mutual Fund had the lowest exposure of Rs 14 crore in January. SBI Mutual Fund, the largest fund house based on assets, had a total exposure of around 42 crore.
Mirae Asset NYSE FANG+ ETF had around 12.1% of the total portfolio holdings in Nvidia making the total exposure to Rs 226 crore. Motilal Oswal Nasdaq 100 ETF had 4.6% of the total portfolio holding in this stock making total exposure to Rs 326 crore.Simla Investment
On the basis of percentage of AUM, Motilal Oswal Nasdaq 100 ETF and Motilal Oswal Nasdaq 100 ETF had exposure of around 6% to the total AUM of the schemes marking the total exposure to Rs 200 crore and Rs 81.7 crore respectively.Agra Wealth Management
DSP Global Allocation FoF had the lowest exposure of 0.8% as a percentage of AUM.
Only two active funds had exposure to Nvidia. Axis Special Situations Fund had total exposure of Rs 8.4% making it 0.7% of the total AUM. Axis Growth Opportunities Fund had exposure of Rs 118.5 crore with 1.1% of the total AUM.
According to the report, Mirae Asset NYSE FANG+ ETF had the highest tentative impact of one day's change in NVIDIA price on fund NAV. The fund witnessed around 1.9% impact on NAV. Mirae Asset S&P 500 Top 50 ETF witnessed 1% impact on the NAV.Chennai Stock
Nasdaq had total exposure of approximately 4.6% to Nvidia.
In the meanwhile not only the tech based funds rallied but also the FANG funds managed to offer superior return. Mirae Asset NYSE FANG+ ETF and Mirae Asset NYSE FANG+ETF FoF managed to offer around 81.04% and 84.44% respectively.
Nvidia crossed $2 trillion in market value for the first time last week. Its shares have surged around 29% in one month and has managed to become bigger than old favourites Amazon ($1.81 trillion) and Alphabet ($ 1.79 trillion).
The shares of Nvidia surged over 16% and added $ 277 billion to its market capitalisation in just one day, making it the largest wealth creator in Wall Street's history.
Nvidia, which controls about 80% of the high-end AI chip market, reported a Q4 revenue jump of more than threefold from a year ago to $22.10 billion and beat all expectations. At least 17 brokerages raised their price targets after results. Among the most bullish, Rosenblatt Securities raised its price target to $1,400 from $1,100, implying a $3.5 trillion stock market value, Reuters reported.
The single-day rally in Nvidia has eclipsed not just India's largest stock by market value (RIL), but several other American giants like Bank of America ($265 billion), Coca-Cola ($264 billion), Netflix ($255 billion), Accenture ($233 billion) and McDonald ($214 billion).
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