SBI Mutual Fund buys into Swiss drug ingredients maker Lonza Group in January

SBI Mutual Fund, the country’s largest fund house by asset under management (AUM), freshly bought as many as 33.2 lakh shares of Lonza Group in January, which is valued at ₹1,350 crore. In contrast, Motilal Oswal AMC made a complete exit from the company by offloading 39 shares.

The Switzerland-based Lonza Group is engaged in the supply of pharmaceutical, healthcare, and life science product. The company operates more than 30 global locations across five continents.

According to data sourced from primedatabase.com, Lonza Group accounts for 17% of SBI Mutual Fund’s foreign equity holdings as of January end. While 39% of the fund’s overseas exposure is held with the search engine giant Alphabet Inc., another 18.1% of its ownership is with Cognizant Technology Solutions Corporation. The three companies together contribute 74% to the fund’s total foreign holdings.