All that you need to know that happened last week in Mutual Funds.
In line with the global markets, Indian markets took a breather with most funds down for the week. The silver lining was technology and pharma sector funds. All 5 top performing mutual funds this week are from these two sectors and were up on average 2.7% for the week. Investor enthusiasm remains strong, with all 5 top inflow mutual funds on our platform being in the equity category of which two are small-cap mutual funds.
Assets under management of the Mutual Fund Industry saw a 9% month-on-month jump in August 2018 and increased to a record high of Rs 25.20 lakh crore, as per AMFI data. Equity assets increased by 4.2% and reached Rs 8.04 lakh crore at the same time. #MutualFundSahiHai
The rupee touched a new low of 72.10 per dollar as currencies across emerging markets weakened against the USD.
What worked best:
The 6-week bull run going on in Indian Equity Markets saw a pause as BSE Sensex and NIFTY fell by -0.66% and -0.78% respectively over the week. Small Cap Index was down -1.72% whereas Mid Cap Index witnessed a fall of -2.23% for the week.
| Index | Weekly open | Weekly close | Change |
| BSE Sensex | 38,645.07 | 38,389.82 | -0.66% |
| Nifty | 11,680.50 | 11,589.10 | -0.78% |
| S&P BSE SmallCap | 17,193.20 | 16,896.95 | -1.72% |
| S&P BSE MidCap | 16,881.33 | 16,504.86 | -2.23% |
Source- BSE/NSE
Top 5 best performing mutual funds:
| Name | Week | 3Y | Category |
| SBI HEALTHCARE OPPORTUNITIES | 3.4% | -1.3% | Sectoral |
| ICICI PRUDENTIAL TECHNOLOGY | 2.9% | 15.4% | Sectoral |
| RELIANCE PHARMA | 2.7% | 4.8% | Sectoral |
| MIRAE ASSET HEALTHCARE | 2.3% | NA | Sectoral |
| SBI TECHNOLOGY OPPORTUNITIES | 2.2% | 14.5% | Sectoral |
Source – Kuvera.in
What investors bought:
We saw the most inflows last week in these 5 schemes –
| Name | 1Y | 3Y | Category |
| HDFC SMALL CAP | 23.7% | 24.0% | Small Cap |
| L&T EMERGING BUSINESSES | 9.3% | 24.7% | Small Cap |
| HDFC MID CAP | 8.7% | 17.4% | Mid Cap |
| CANARA ROBECO EMERGING EQUITIES | 10.8% | 20.5% | Large & Mid Cap |
| ICICI PRUDENTIAL BLUECHIP | 14.4% | 17.0% | Large 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 |
| RELIANCE ARBITRAGE | 6.9% | 6.8% | Arbitrage |
| HDFC HYBRID EQUITY | 1.4% | 10.5% | Aggressive Hybrid |
| HDFC CAPITAL BUILDER | 16.5% | 18.6% | Value |
| MIRAE ASSET INDIA EQUITY | 13.1% | 18.6% | Multi Cap |
| RELIANCE MULTI CAP | 13.4% | 11.5% | Multi Cap |
Source – Kuvera.in
Movers and shakers at fund house:
1/ Motilal Oswal Mutual Fund lowered the minimum amount for lumpsum and SIP investments in its schemes to 500 Rs.
2/ SBI Mutual Fund announced the appointment of Ashwani Bhatia as MD and CEO. He will be taking over from Anuradha Rao.
3/ Canara Robeco Mutual Fund appointed Krishna Sanghvi as equity head. He will step in place of Ravi Gopalakrishnan.
4/ Tata Mutual Fund appointed Chandraprakash Padiyar as senior fund manager for Tata Hybrid Equity Fund and Tata Large & Mid cap Fund.
Quote of the week:
“India is an economy with a tremendous growth potential and although it is seen as an emerging economy, it doesn’t suffer from big imbalances that we see in some of the countries where the current focus is most intense. You have some exciting growth companies which are attracting domestic and international investors who are looking for genuine growth opportunities in large markets which are expanding.”
Peter Oppenheimer, Chief Global Equity Strategist, Goldman Sachs
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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