All that you need to know that happened last week in Mutual Funds.
Another landmark was achieved by the Indian Stock Markets as Sensex closed above 38,000 for the first time this week. It took the Sensex nine sessions to go from 37,000 to 38,000 index level.
SEBI announced that 8.62 lakh new folios (investor accounts) were opened in Indian Mutual Funds Industry in the month of June. The total number of folios now stands at 7.55 crore.
A Mint analysis of 102 listed companies showed that aggregate net profit, after adjusting for one-time gains and losses, rose 14.3% in the fiscal first quarter, the highest in nine quarters.
In global macro news, crude oil prices traded at a 7 week low as China announced a list of 333 US goods (including petroleum products) that the country is going to add import tariffs on.
What worked best?
BSE Sensex and NIFTY rose by 0.83% and 0.60% respectively over the week. Small Cap Index tumbled by 0.29% whereas Mid Cap Index witnessed a neutral week with a surge of 0.02%.
| Index | Weekly opening | Weekly close | Change |
| BSE Sensex | 37,556.16 | 37,869.23 | 0.83% |
| Nifty | 11,360.80 | 11,429.50 | 0.60% |
| S&P BSE SmallCap | 16,833.52 | 16,784.20 | -0.29% |
| S&P BSE MidCap | 16,206.89 | 16,210.78 | 0.02% |
Source- BSE/NSE
Top 5 Best Performing Funds Last Week:
| Name | Week | 1Y | 3Y | Category |
| DSP BLACKROCK US FLEXIBLE EQUITY GROWTH DIRECT PLAN | 2.5% | 26.1% | 14.2% | Fund of Funds |
| EDELWEISS ASEAN EQUITY OFF SHORE GROWTH DIRECT PLAN | 2.5% | 14.5% | 11.4% | Fund of Funds |
| HSBC ASIA PACIFIC YIELD GROWTH DIRECT PLAN | 2.4% | 11.6% | 12.1% | Fund of Funds |
| UTI BANKING AND FINANCIAL SERVICES GROWTH DIRECT PLAN | 2.4% | 13.0% | 16.5% | Sectoral/Thematic |
| DSP BLACKROCK NATURAL RESOURCES AND NEW ENERGY GROWTH DIRECT PLAN | 3.7% | 1.2% | 21.4% | Sectoral/Thematic |
Source – Kuvera.in
What investors bought?
We saw the most inflows last week in these 5 schemes –
| Name | 1Y | 3Y | Category |
| SBI BLUE CHIP GROWTH DIRECT PLAN | 9.5% | 11.2% | Large Cap Fund |
| ADITYA BIRLA SUN LIFE TAX RELIEF96 GROWTH DIRECT PLAN | 17.0% | 13.5% | ELSS |
| AXIS LONG TERM EQUITY GROWTH DIRECT PLAN | 20.6% | 13.0% | ELSS |
| SBI MAGNUM MIDCAP GROWTH DIRECT PLAN | 0.9% | 7.8% | Mid Cap Fund |
| UTI MID CAP GROWTH DIRECT PLAN | 7.8% | 8.5% | Mid Cap Fund |
Source – Kuvera.in
What investors sold?
We saw the most outflows last week in these 5 schemes (excluding liquid and short term schemes) –
| Name | 1Y | 3Y | Category |
| KOTAK EQUITY ARBITRAGE GROWTH DIRECT PLAN | 6.4% | 6.7% | Arbitrage Fund |
| MOTILAL OSWAL MOST FOCUSED MULTICAP 35 GROWTH DIRECT PLAN | 8.4% | 14.1% | Multi Cap Fund |
| MAGNUM MIDCAP GROWTH PLAN | -0.3% | 6.5% | Mid Cap Fund |
| ICICI PRUDENTIAL EQUITY AND DEBT GROWTH DIRECT PLAN | 9.1% | 12.3% | Aggressive Hybrid Fund |
| FRANKLIN INDIA PRIMA GROWTH PLAN | 8.9% | 12.2% | Mid Cap Fund |
Source – Kuvera.in
Movers and shakers at Fund House:
1/ Indiabulls Mutual Fund announced that they are appointing Raghav Iyengar as CEO (Chief Executive Officer) He will also be a whole time director at the Mutual Fund Company.
2/ Essel Mutual Fund announced the end of Essel Flexible Income Fund via an addendum. They were unable to maintain SEBI’s norms for minimum AUM (Assets Under Management).
3/ Mirae Asset Fund announced that Vrijesh Kasera will be solely managing the Healthcare fund. Earlier Neelesh Surana was jointly managing the scheme.
4/ IIFL Mutual Fund is seeking nod from SEBI to launch it’s IIFL US Technology Fund. The fund will invest in “equity and equity-related securities of companies listed on recognized stock exchanges in the US predominantly forming a part of Information Technology and Internet Sectors”.
Quote of the week:
As a bull market continues, almost anything you buy goes up. It makes you feel that investing in stocks is very easy and safe and that you’re a financial genius. – Ron Chernow
This market update was initially published by CNBCTV18 in the Markets section.
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