What India’s top three mutual funds bought and sold last month1 min read . Updated: 12 Sep 2019, 02:37 PM IST
- Equity mutual funds received ₹9,150 crore inflows last month
- This is the highest since March
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 ₹9,150 crore ($1.2 billion), according to the Association of Mutual Funds in India. That’s an increase from ₹8,110 crore 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%.
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