What India’s top three mutual funds bought and sold in August
Inflows into Indian equity mutual funds rose for the fourth straight month in August even as the nation’s stocks suffered their worst three-month period since 2016.
Stock plans received 91.5 billion rupees ($1.2 billion), according to the Association of Mutual Funds in India. That’s an increase from 81.1 billion rupees that the funds got in July and the highest since March.
Here’s what the top three asset managers bought and sold last month:
HDFC Mutual Fund
India’s top money manager held about $20 billion in equities, with financials accounting for 32% of stock assets followed by industrial companies at 13%.
ICICI Prudential Mutual Fund
The money manager held equity assets of about $18 billion, with financials making up 28% of assets followed by materials at 10%.
SBI Funds Management
The fund house held about $23 billion in more than 300 stocks. Financials made up about 39% of assets, followed by technology at 11%.
(The story has been published from a wire feed without any modifications to the text.)