What shares India’s top three mutual funds bought and sold last month
1 min read.Updated: 16 Oct 2019, 11:57 AM ISTAmeya Karve, Bloomberg
Equity mutual funds received ₹6,610 crore billion rupees ($931 million) last month, according to AMFI data
That’s 28% less than what the equity mutual funds got in August
Inflows into Indian stock funds halted a four-month rising streak even as the $2 trillion equity market logged its best September in six years after the government’s surprise $20 billion break to companies. Stock plans received ₹6,610 crore ($931 million) last month, according to the Association of Mutual Funds in India. That’s 28% less than what the funds got in August.
Here’s what the top three asset managers bought and sold:
HDFC Mutual Fund
India’s top money manager held about $20 billion in equities, with financials accounting for 31% 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 $24 billion in more than 300 stocks. Financials made up about 40% of assets, followed by technology at 10%.
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