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Net inflows into open-ended equity-oriented mutual fund schemes rose about 35% to 19,644.86 crore in February compared with 14,552 crore in January. Net inflows have been higher in the last four months at lower market levels. The equity inflows have remained positive for 12 straight months since February 2021.

The number of new SIP (systematic investment plan) accounts went up by over 12 lakh in February 2022, taking the total number of SIP accounts to 5.17 crore. However, the contribution from SIPs in the previous month came down marginally by 78.9 crore to 11,437 crore from record levels in January.

In February, Mutual Funds (MFs) were seen adding names like Infosys, Reliance Industries, ICICI Bank and Manyavar whereas they slightly trimmed holdings in Tata Consultancy Services (TCS), Vedanta, Apollo Hospitals, and Escorts, as per data analysed by Edelweiss.

HDFC mutual funds' large additions were Reliance Industries, HDFC and HDFC Bank. It's prominent reductions were State Bank of India (SBI), Tata Steel and United Spirits. National Aluminium Company (Nalco) and Vodafone Idea were new entrants while Abbott India was a complete exit for the fund house, the fund house's data accumulated by Edelweiss showed.

The team of fund managers, headed by Prashant Jain in the HDFC AMC have increased shareholding in defence stocks Bharat Dynamics (increased holding by 2,35,800 shares), Bharat Electronics (increased holding by 2,000,000 shares), and remaining invested in PSU defence firms BEML, Hindustan Aeronautics Limited (HAL), as per the data for the month of February 2022.

Shares of Bharat Dynamics have rallied 28% in 2022 (year-to-date or YTD) so far, whereas HAL shares are up 11% during the same period. However, PSU stock BEML is down about 7% whereas Bharat Electronics shares are almost flat this year so far. 

 

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