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India-focused funds based abroad are reshuffling their portfolios to deal with uncertainties that have crept up in recent months. Franklin Templeton Investment (Franklin India MF) reduced its exposure by $830 million (Rs 58.6 billion) in the September quarter. Aberdeen Global (Indian Equity Fund MF) pruned its exposure by $130 mn (Rs 9.1 bn) in October. While the extent to which this cut was related to price fluctuations couldn't be ascertained, Bloomberg data shows Franklin India MF had reduced its shares' position in 19 of the 42 companies in its portfolio. It only increased its stake in six entities; its shareholding was unchanged in 16 others. Notably, it completely exited its position in five companies, including Axis Bank, State Bank of India and HCL Technologies. In the case of Aberdeen Global Indian Equity Fund, the stakes were raised in four companies, while the shareholding was cut in 11 others. In the remaining 19, the share position was left unchanged.In its fund ...

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