(iStock)
(iStock)

What India's top three mutual funds bought and sold in February

  • Stock funds took in a net 5,130 crore, a 17% drop over January, data from the Association of Mutual Funds in India show
  • Here’s what the top three asset managers bought and sold last month

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.

Stock funds took in a net 5,130 crore ($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 130,000 crore 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 110,000 with financials making up 27 percent of assets followed by energy at 10 percent.

SBI Funds Management Pvt.

The fund house had about 140,000 crore 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.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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