All that you need to know that happened last week in Mutual Funds.
The US Stock Index S&P 500 is now in the longest bull run in its history surpassing the tech boom of the 90s. It has now gone 3,454 days without a drop of 20 percent or more. As of Tuesday, the S&P 500 had climbed 323 percent over the current bull market. By comparison, the bull market that ran through much of the 1990s and ended in March 2000 led to a 417 percent gain for the S&P 500, according to S&P Dow Jones Indices.
Reliance Industries became the first Indian company to reach market capitalization of Rs. 8 lakh Crore. It now constitutes 9.6% of the Nifty 50 Index.
SEBI (Securities and Exchange Board of India) formed a six-member sub-committee to review the current total expense ratio (TER) structure in Mutual Funds in India. SEBI sees TER rationalization as a way to spur competition in the Mutual Fund space where top 7 fund houses have a 60-70% AUM share.
Raghuram Rajan reaffirmed that there is no need to worry about Rs depreciation – “I think it (rupee) hasn’t depreciated to worrying levels, it’s dollar strength around the world. This is the time when the country should focus on macro stability considering it is going into an election year”.
What worked best:
BSE Sensex and NIFTY rose by 0.80% and 0.75% respectively over the week. Small Cap Index had a neutral week (-0.01%) whereas Mid Cap Index outperformed and was up 1.51% for the week.
| Index | Weekly Open | Weekly Close | Change |
| BSE Sensex | 37,947.88 | 38,251.80 | 0.80% |
| Nifty | 11,470.75 | 11,557.10 | 0.75% |
| S&P BSE SmallCap | 16,866.21 | 16,864.43 | -0.01% |
| S&P BSE MidCap | 16,306.44 | 16,552.74 | 1.51% |
Source- BSE/NSE
Top 5 best performing funds:
| Name | Week | 3Y | Category |
| LIC MF EQUITY HYBRID | 2.3% | 6.4% | Aggressive Hybrid |
| RELIANCE SMALL CAP | 2.1% | 20.3% | Small Cap |
| ICICI PRUDENTIAL CHILD CARE | 2.0% | 11.9% | Childrens |
| PRINCIPAL HYBRID EQUITY | 2.0% | 16.8% | Aggressive Hybrid |
| HSBC DYNAMIC ASSET ALLOCATION | 2.0% | 12.3% | Dynamic Asset Allocation |
Source – Kuvera.in
What investors bought:
We saw the most inflows last week in these 5 schemes –
| Name | 1Y | 3Y | Category |
| HDFC BALANCE ADVANTAGE | 13.1% | 13.3% | Dynamic Asset Allocation |
| SBI BLUE CHIP GROWTH | 11.3% | 12.3% | Large Cap |
| L&T EMERGING BUSINESSES | 12.6% | 21.8% | Small Cap |
| AXIS BLUECHIP | 24.2% | 14.9% | Large Cap |
| HDFC SMALL CAP | 24.0% | 20.3% | Small Cap |
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 |
| ICICI PRUDENTIAL VALUE DISCOVERY | 14.5% | 10.4% | Value |
| SBI HEALTHCARE OPPORTUNITIES | 9.9% | -4.9% | Sectoral |
| FRANKLIN INDIA PRIMA | 12.3% | 14.9% | Mid Cap |
| ICICI PRUDENTIAL EQUITY AND DEBT | 10.0% | 13.3% | Aggressive Hybrid |
| ADITYA BSL DIGITAL INDIA | 52.5% | 15.1% | Sectoral |
Source – Kuvera.in
Movers and shakers at fund house:
1/ Canara Robeco AMC announced that Mr Rakesh Sharma has resigned from the designation of Associate Director. Mr Hideaki Yokoyama and Mr Debashish Mukherjee have been appointed as Associate Directors.
2/ DSP Mutual Fund announced that Mr Gopal Agrawal will be managing the equity portion of DSP Regular Savings Fund and DSP Equity Savings Fund. These were earlier being managed by Mr Mayur Patel.
Quote of the week:
This market update was initially published by CNBCTV18 in the Personal Finance section.
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