Last Week for ELSS Investing & Other MF News

All that you need to know about Mutual Funds this week

The mutual fund Industry has added 1.18 crore folios during the past year, with Equity funds (including ELSS and Balanced funds) contributing to 90% of the total growth.The total investor accounts stood at 8.18 crore in February, with the total Assets under management (AUM) at Rs 23.16 lakh crore.

After a decade of operations, Mirae Asset is now ranked 16th in the list of Top AMCs in terms of Average Assets Under Management, and 12th in terms of Equity Assets. The AMC now has over Rs 25,000 crores Assets in Management, with Rs 22,000 crore in Equity Assets.

Goldman Sachs (GS), the global investment banking firm, has upgraded India to “overweight” and expects NIFTY to reach 12,500 in the next 12 months.

The Reserve Bank of India (RBI) has raised concerns over the conflict of interest in the functioning of credit rating agencies in their dual practice of both rating the bond, as well as deciding its valuation, which is used by AMCs to calculate the NAV (Net Asset Value) of schemes.

One week of tax planning is left and we are seeing some last minute ELSS flows. One Tax Saving ELSS fund featured in the top 5 most bought fund on Kuvera this week. Visit our ELSS Help Center to learn everything you need to know to save taxes while investing in Mutual Funds.

 

Index Returns:
Index Weekly open Weekly close Change
BSE Sensex 38,024.32 38,164.61 0.37%
Nifty 11,426.85 11,456.90 0.26%
S&P BSE SmallCap 14,837.18 14,758.80 -0.53%
S&P BSE MidCap 15,171.52 15,076.89 -0.62%

Source- BSE/NSE

 

Top 5 best performing funds:
Name Week 3Y Category
DSP NATURAL RESOURCES  2.6% 23.6% Sectoral
EDELWEISS EURO DYNAMIC EQUITY 2.2% 4.4% Fund of Funds
MOTILAL OSWAL NASDAQ 100 FOF 2.2% NA Fund of Funds
DHFL PRAMERICA EURO EQUITY 1.5% 5.0% Fund of Funds
DSP WORLD ENERGY 1.5% 4.4% Fund of Funds

Source – Kuvera.in

 

Top 5 worst performing funds:

Name Week 3Y Category
KOTAK WORLD GOLD -4.0% -2.4% Fund of Funds
UTI TRANSPORTATION & LOGISTICS  -3.1% 7.1% Sectoral
IDBI MIDCAP -2.2% NA Mid Cap
INVESCO INDIA FEEDER PAN EURO -1.8% 6.5% Fund of Funds
DSP WORLD GOLD  -1.7% -0.2% Fund of Funds

Source – Kuvera.in

 

Top 5 best performing ELSS funds:
Name Week 3Y Category
TATA INDIA TAX SAVING 0.7% 17.8% ELSS
ICICI PRU LONG TERM EQUITY 0.5% 15.2% ELSS
TAURUS TAXSHIELD  0.4% 18.5% ELSS
JM TAX GAIN 0.4% 18.2% ELSS
DHFL PRAMERICA LONG TERM EQUITY 0.4% 15.6% ELSS

Source – Kuvera.in

 

Top 5 worst performing ELSS funds:
Name Week 3Y Category
AXIS LONG TERM EQUITY  -1.2% 15.9% ELSS
IDBI EQUITY ADVANTAGE -1.1% 12.8% ELSS
MOTILAL OSWAL LONG TERM EQUITY  -0.7% 19.6% ELSS
RELIANCE TAX SAVER -0.5% 11.2% ELSS
HSBC TAX SAVER EQUITY -0.4% 15.0% ELSS

Source – Kuvera.in

 

What investors bought:

We saw the most inflows in these 5 Funds –

Name 1Y 3Y Category
HDFC SMALL CAP 0.5% 22.9% Small Cap
HDFC MID CAP OPP -0.4% 17.0% Mid Cap
MIRAE ASSET TAX SAVER 12.5% 23.7% ELSS
PARAG PARIKH LONG TERM EQUITY 9.2% 15.5% Multi Cap
AXIS FOCUSED 25 9.5% 19.2% Focused Fund

Source – Kuvera.in

 

What investors sold:

We saw the most outflows in these 5 Funds (excluding liquid and short-term schemes) –

Name 1Y 3Y Category
MIRAE ASSET INDIA EQUITY 13.6% 19.4% Multi Cap
AXIS MULTICAP 15.3% NA Multi Cap
MOTILAL OSWAL MULTICAP 35  1.4% 17.8% Multi Cap
HDFC HYBRID EQUITY 3.0% 14.2% Hybrid
SBI BLUE CHIP 5.8% 13.6% Large Cap

Source – Kuvera.in

 

Quote of the week:

One of the frustrating things for people who miss the first rally in a bull market is that they wait for the big correction, and it never comes. The market just keeps climbing and climbing.

:Martin Zweig

 

This market update was initially published by CNBCTV18 in the Personal Finance section.

Niveditha Vishwamithra is an Analyst at Kuvera.in: India’s first completely free Direct Mutual Fund investing platform.

Start investing through a platform that brings goal planning and investing to your fingertips. Visit kuvera.in to discover Direct Plans and start investing today.

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