All that you need to know about Mutual Funds this week
The International Monetary Fund (IMF) expects India’s economy to pick up, even as IMF slashed its forecast for the World Economy. Gita Gopinath, the chief economist of IMF, projected that India will grow at 7.5% this year and 7.7% in 2020. This increased growth rate was attributed to lower oil prices and a slower pace of monetary tightening. IMF said India would remain one of the fastest growing major economies of the world.
As debt repayments are becoming increasingly uncertain for the IL&FS Group, the ratings agency ICRA has decided to place 6 mutual fund schemes with IL&FS exposure on ratings watch. The schemes under scrutiny include:
- Aditya Birla Sun Life Short Term Opportunities Fund
- HDFC Banking and PSU Debt Fund
- HDFC Short Term Debt Fund
- UTI Banking and PSU Debt Fund
- UTI Bond Fund and UTI Dynamic Bond Fund
As per data released by AMFI, three cities (Mumbai, New Delhi and Bangalore) account for 45% of the overall equity assets of ₹11.21 lakh crore, as of December 2018.
Index Returns:
| Index | Weekly open | Weekly close | Change |
| BSE Sensex | 36,386.61 | 36,025.54 | -0.99% |
| Nifty | 10,906.95 | 10,780.55 | -1.16% |
| S&P BSE SmallCap | 14,504.60 | 14,000.20 | -3.48% |
| S&P BSE MidCap | 15,023.39 | 14,681.82 | -2.27% |
Source- BSE/NSE
Top 5 best performing funds:
| Name | Week | 3Y | Category |
| HSBC BRAZIL | 3.4% | 29.7% | Fund of Funds |
| HSBC GLOBAL EMERGING MARKETS | 1.6% | 16.5% | Fund of Funds |
| INVESCO INDIA FEEDER GLOBAL EQ | 1.2% | 8.8% | Fund of Funds |
| EDELWEISS GREATER CHINA EQUITY | 1.2% | 14.2% | Fund of Funds |
| RELIANCE PHARMA | 1.2% | 4.5% | Sectoral |
Source – Kuvera.in
Top 5 worst performing funds:
| Name | Week | 3Y | Category |
| UTI TRANSPORTATION AND LOGISTICS | -5.4% | 7.7% | Sectoral |
| HSBC INFRASTRUCTURE EQUITY | -4.5% | 2.4% | Sectoral |
| RELIANCE POWER AND INFRA | -4.2% | 11.0% | Sectoral |
| ADITYA BIRLA SUN LIFE PURE VALUE | -3.8% | 12.2% | Value |
| SUNDARAM SMALL CAP | -3.6% | 7.0% | Small Cap |
Source – Kuvera.in
Top 5 best performing ELSS funds:
| Name | Week | 3Y | Category |
| JM TAX GAIN | -0.8% | 16.2% | ELSS |
| KOTAK TAX SAVER | -1.0% | 15.7% | ELSS |
| DHFL PRAMERICA LONG TERM EQUITY | -1.0% | 13.5% | ELSS |
| TAURUS TAXSHIELD | -1.1% | 16.7% | ELSS |
| MAHINDRA MUTUAL KAR BACHAT | -1.2% | 7.1% | ELSS |
Source – Kuvera.in
Top 5 worst performing ELSS funds:
| Name | Week | 3Y | Category |
| RELIANCE TAX SAVER | -3.3% | 9.4% | ELSS |
| HSBC TAX SAVER | -3.0% | 13.0% | ELSS |
| ICICI PRU LONG TERM EQUITY | -2.5% | 12.8% | ELSS |
| BOI AXA TAX ADVANTAGE | -2.2% | 12.7% | ELSS |
| MOSL LONG TERM EQUITY | -2.2% | 17.4% | ELSS |
Source – Kuvera.in
What investors bought:
We saw the most inflows in these 5 schemes –
| Name | 1Y | 3Y | Category |
| HDFC MID CAP OPPORTUNITIES | -13.8% | 15.1% | Mid Cap |
| PARAG PARIKH LONG TERM EQUITY | -2.9% | 14.0% | Multi Cap |
| KOTAK STANDARD MULTICAP | -3.1% | 17.0% | Multi Cap |
| ADITYA BIRLA SUN LIFE TAX RELIEF96 | -5.1% | 15.6% | ELSS |
| MIRAE ASSET INDIA EQUITY | -4.2% | 17.6% | Multi Cap |
Source – Kuvera.in
What investors sold:
We saw the most outflows in these 5 schemes (excluding liquid and short-term schemes) –
| Name | 1Y | 3Y | Category |
| HDFC SMALL CAP | -10.3% | 20.8% | Small Cap |
| SBI BLUE CHIP | -7.2% | 12.2% | Large Cap |
| FRANKLIN INDIA SMALLER COMPANIES | -17.9% | 13.3% | Small Cap |
| DSP NATURAL RESOURCES AND NEW ENERGY | -18.5% | 21.2% | Sectoral |
| RELIANCE PHARMA | 3.6% | 4.5% | Sectoral |
Source – Kuvera.in
Movers and shakers at fund house:
1/ Motilal Oswal Mutual Fund has announced the resignation of Kanu Doshi from his role as an independent director of the AMC.
2/ Indiabulls Mutual Fund announced the resignation of Sumit Bhatnagar. He was the Head of Equity and Key Personnel of the Indiabulls AMC.
Quote of the week:
The water in a vessel is sparkling; the water in the sea is dark. The small truth has words which are clear; the great truth has great silence
Rabindranath Tagore
This market update was initially published by CNBCTV18 in the Personal Finance section.
Manvendra Singh Rathore is an Analyst at Kuvera.in: India’s first completely free Direct Mutual Fund investing platform.
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