All that you need to know that happened last week in Mutual Funds.
It was an eventful week for the markets. BSE (Bombay Stock Exchange) announced that it’s Mutual Funds platform BSE StarMF processed 98 lakh transactions totalling Rs. 50,400 Crore in the first 4 months of the ongoing Financial Year. RBI hiked repo rate by 25 basis points (bps) to 6.5%. This was second continuous rate hike by the Central Bank. India’s June infrastructure output grew at a 7-month high of 6.7%.
What worked best?
The Equity markets continued there positive trend this week. BSE Sensex and NIFTY were up by 0.59% and 0.74% respectively over the week. Small Cap and Mid Cap Indexes outperformed the large-cap index and were up by 2.33% and 1.85% respectively. Pharma & healthcare was the sector of choice as 4 of the Top 5 performing funds were from that sector.
| Index | Weekly opening | Weekly close | Change |
| BSE Sensex | 37,336.85 | 37,556.16 | 0.59% |
| Nifty | 11,278.35 | 11,360.80 | 0.73% |
| S&P BSE SmallCap | 16,450.20 | 16,833.52 | 2.33% |
| S&P BSE MidCap | 15,912.62 | 16,206.89 | 1.85% |
Source- BSE/NSE
Top 5 Best Performing Funds Last Week:
| Name | Week | 1Y | 3Y | Category |
| RELIANCE PHARMA GROWTH DIRECT PLAN | 5.3% | 15.9% | 2.7% | Sectoral/Thematic |
| SBI HEALTHCARE OPPORTUNITIES GROWTH DIRECT PLAN | 4.3% | -5.7% | -4.8% | Sectoral/Thematic |
| UTI HEALTHCARE GROWTH DIRECT PLAN | 4.3% | 3.1% | -2.4% | Sectoral/Thematic |
| SBI BANKING AND PSU GROWTH DIRECT PLAN | 3.8% | 6.8% | 8.0% | Banking and PSU Fund |
| TATA INDIA PHARMA AND HEALTHCARE GROWTH DIRECT PLAN | 3.7% | 4.5% | -2.5% | Sectoral/Thematic |
Source – Kuvera.in
What investors bought?
We saw the most inflows last week in these 5 schemes –
| Name | 1Y | 3Y | Category |
| ICICI PRUDENTIAL EQUITY ARBITRAGE GROWTH DIRECT PLAN | 6.5% | 6.8% | Arbitrage Fund |
| L&T EMERGING BUSINESSES GROWTH DIRECT PLAN | 8.9% | 21.1% | Small Cap Fund |
| HDFC SMALL CAP GROWTH DIRECT PLAN | 19.5% | 19.6% | Small Cap Fund |
| AXIS FOCUSED 25 GROWTH DIRECT PLAN | 20.0% | 17.4% | Focused Fund |
| ICICI PRUDENTIAL NIFTY NEXT 50 INDEX GROWTH DIRECT PLAN | 7.5% | 13.6% | Index Funds |
Source – Kuvera.in
Movers and shakers at Fund House:
1/ Edelweiss Mutual Fund appointed Hardik Verma as an additional fund manager for their Multi-Asset Allocation Fund. Bharat Lahoti will keep managing the equity portion of the scheme.
2/ Union Mutual Fund appointed Parijat Agrawal and Hardick Bora as co-fund managers of the Union Equity Savings Fund.
3/ JM Financial Mutual Fund appointed Vikas Agrawal as fund manager for JM Dynamic Debt Fund. Shalini Tibrewala will now manage JM Money Market Fund.
4/ IIFL Mutual Fund appointed of Anup Maheshwari as the joint Chief Executive Officer and Chief Investment Officer (CIO). Maheshwari was earlier at DSP BlackRock as CEO (Equities).
Quote of the week
“The real money in investing will have to be made – as most of it has been in the past – not out of buying and selling, but out of owning and holding securities, receiving interest and dividends, and benefiting from their long-term increase in value.” – Benjamin Graham
This market update was initially published by CNBCTV18 in the Markets section.
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