Today in New Delhi, India
Mar 22, 2019-Friday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Most popular mutual funds bought and sold in February

Inflows into Indian equity mutual funds in February were the smallest in more than two years as savers held back investments amid market volatility and uncertainty ahead of the general election starting next month.

business Updated: Mar 13, 2019 10:28 IST
Bloomberg
Bloomberg
Mumbai
Inflows into Indian equity mutual funds in February were the smallest in more than two years as savers held back investments amid market volatility and uncertainty ahead of the general election starting next month. (REUTERS)

Inflows into Indian equity mutual funds in February were the smallest in more than two years as savers held back investments amid market volatility and uncertainty ahead of the general election starting next month.

Stock funds took in a net 51.3 billion rupees ($736 million), a 17 percent drop over January, data from the Association of Mutual Funds in India show. That’s a fourth straight monthly decline and the lowest level since January 2017.

Here’s what the top three asset managers bought and sold last month:

HDFC Mutual Fund

India’s largest money manager held 1.3 trillion rupees in equities, with financials accounting for about 32 percent of stock assets followed by industrial companies at 14 percent.

ICICI Prudential Mutual Fund

The money manager held equity assets of 1.1 trillion rupees, with financials making up 27 percent of assets followed by energy at 10 percent.

SBI Funds Management Pvt.

The fund house had about 1.4 trillion rupees invested in more than 350 stocks. Financials made up about 35 percent of assets, followed by technology at 11 percent. The fund didn’t add a new position or completely exit a stock last month.

First Published: Mar 13, 2019 10:12 IST