What India's biggest mutual funds bought and sold in July1 min read . Updated: 14 Aug 2019, 02:13 PM IST
- Equity mutual funds received net inflows of ₹8,110 crore in July
- This is the highest inflow in four months
Investors in Indian equity mutual funds bought more last month, unfazed by the selloff that saw the nation’s $1.9 trillion market log its worst July in 17 years. Stock plans received ₹8,110 crore ($1.2 billion), according to the Association of Mutual Funds in India. That’s an increase from ₹7,660 crore that the funds got in June and the highest in four months.
Here’s what the top three asset managers bought and sold last month:
HDFC Mutual Fund
India’s top money manager held about $21 billion in equities, with financials accounting for 32% of stock assets followed by industrial companies at 14%.
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 340 stocks. Financials made up about 40% of assets, followed by technology at 11%.
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