Rs 6,000 Cr AUA, Passive Funds & Repo Rates!

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The basket of Passive funds available for investors has grown yet again, as Motilal Oswal Mutual Fund has launched two new Index funds – Motilal Oswal Nifty 50 Index Fund and Motilal Oswal Nifty Next 50 Index Fund. These open-ended schemes will track the Nifty 50 Index and Nifty Next 50 Index respectively. The new fund offerings will be open for subscription until 17 December. We are firm believers in an index first approach to portfolio management. You can see our recommended portfolio here. 


The RBI has kept the repo rate unchanged, after five consecutive rate cuts. The committee stated that it will maintain an “accommodative stance as long as it is necessary.” The RBI Governor added:



The MPC recognizes that there is monetary policy space for future action. However, given the evolving growth-inflation dynamics, the MPC felt it appropriate to take a pause at this juncture. Accordingly, the MPC decided to keep the policy repo rate unchanged and continue with the accommodative stance as long as it is necessary to revive growth, while ensuring that inflation remains within the target.



In the aftermath of the announcement, the yield on the benchmark 10-year sovereign bonds rose ten basis points to 6.56 per cent.


Karvy Fintech, the Registrar and Transfer Agent (RTA) for 23 mutual funds renamed itself as KFin Technologies, in a bid to disassociate itself from the controversy surrounding its former parent company. Earlier part of the Karvy group, KFin Technologies was acquired by private equity player, General Atlantic approximately a year ago. General Atlantic announced the appointment of M.V. Nair as non-executive Chairman of the board of KFin Technologies.



Index Returns

Index 1W 1Y 3Y
NIFTY 50 1.2% 11.0% 14.0%
NIFTY NEXT 50 1.7% 4.2% 9.2%
S&P BSE SENSEX 1.1% 12.7% 15.6%
S&P BSE SmallCap 1.5% -5.5% 3.7%
S&P BSE MidCap 2.3% 0.9% 6.8%
NASDAQ 100 1.6% 21.9% 19.9%
S&P 500 1.0% 14.7% 12.5%

Source: BSE / NSE


Top 5 best performing funds

Name 1W 1Y 3Y
DSP Natural Resources & New Energy 3.6% 6.4% 7.7%
ICICI Prudential Banking & Financial … 3.2% 20.1% 18.8%
UTI Banking & Financial Services 2.9% 15.1% 14.6%
Aditya Birla Sun Life Banking & Finan… 2.9% 18.1% 18.3%
Nippon India Banking 2.7% 15.6% 17.1%



Top 5 worst performing funds

Name 1W 1Y 3Y
Aditya Birla Sun Life Medium Term -6.3% -3.1% 3.2%
Aditya Birla Sun Life Mutual Dynamic … -4.3% 1.4% 1.8%
Aditya Birla Sun Life Credit Risk -2.9% 3.7% 6.4%
Baroda Treasury Advantage B -2.4% -18.5% -2.1%
Invesco India Gold -1.6% 23.1% 7.6%



What Investors Bought

We saw the most inflows in these 5 Funds –

Name 1W 1Y 3Y
Mirae Asset Large Cap 1.4% 13.6% 16.6%
Parag Parikh Long Term Equity 1.0% 14.8% 14.6%
Axis Bluechip 1.1% 19.7% 20.8%
Kotak Standard Multicap 1.3% 14.3% 15.2%
ICICI Prudential Equity & Debt 1.2% 10.3% 11.0%



What Investors Sold

We saw the most outflows in these 5 Funds –

Name 1W 1Y 3Y
Motilal Oswal Multicap 35 0.2% 8.5% 12.1%
Franklin India Smaller Companies 1.4% -2.1% 4.6%
ICICI Prudential Value Discovery 0.7% 2.5% 6.8%
Tata Ethical 0.8% 6.4% 9.8%
SBI Magnum Midcap 2.1% 4.0% 3.3%



Most Watchlisted Fund

Top 5 funds added to watchlist by Kuverians

Name 1W 1Y 3Y
Axis Bluechip Growth Direct Plan 1.1% 19.7% 20.8%
Mirae Asset Emerging Bluechip Growth… 1.6% 16.6% 17.3%
Axis Focused 25 Growth Direct Plan 1.2% 17.5% 19.3%
SBI Banking & Financial Services… 1.8% 25.4% 22.6%
Axis Long Term Equity Growth Direct 1.3% 16.2% 17.4%



Movers & Shakers

1/ IDBI Mutual Fund has announced that Dilip Kumar Mandal ceases to be a Managing Director and Chief Executive Officer and Key Personnel of IDBI Asset Management Limited, with effect from 30 November 2019.

2/ PGIM India Mutual Fund has announced that Viral Shah has been designated as the Co-fund manager of PGIM India Credit Risk Fund along with Kumaresh Ramakrishnan with effect from 01 December 2019. Further, he shall also be the Key Personnel of PGIM India Asset Management Pvt. Ltd.

3/ IndiaBulls Mutual Fund has announced a restructuring of the fund management, effective 28 November 2019.


Quote of the week:



Inflation is always and everywhere a monetary phenomenon.

: Milton Friedman



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