Out-performance of Small Cap Mutual Funds continued from the last week. BSE SmallCap Index is up 3.91% this week compared to 1.68% for the BSE Sensex. Two Small Cap Mutual Funds feature in the top 5 best performing funds this week:
A few weeks of tax planning are left and we are seeing some last minute ELSS flows. One Tax Saving ELSS fund featured in the top 5 most bought fund on Kuvera this week. Visit our ELSS Help Center to learn everything you need to know to save taxes while investing in Mutual Funds.
The overall assets under management of the mutual fund industry dipped to Rs 23.16 lakh crore in February, with a net outflow of Rs 20,083 crore after January. However, retail investors stood strong amidst volatility, with the SIP book growing to Rs 8,095 crore from January’s Rs 8,064 crore.
ICICI Prudential Mutual Fund was awarded the title of ‘Best Fund House’ at the Business Today-Money Today Financial Awards 2019. HDFC Bank and State Bank of India jointly won the award for ‘Bank of the Year’.
Women make up a mere 8% of fund managers, as per a report by Morningstar. Of the 345 fund managers across mutual fund houses in the country, there are just 29 women fund managers who are managing funds either as primary/secondary managers or have oversight as heads of equity/debt. The report highlights that 52% of the AUM, managed by women fund managers, outperformed the benchmark/peer group average over one year basis.
Index Returns:
| Index | Weekly open | Weekly close | Change |
| BSE Sensex | 36,063.81 | 36,671.43 | 1.68% |
| Nifty | 10,863.50 | 11,035.40 | 1.58% |
| S&P BSE SmallCap | 13,981.73 | 14,529.06 | 3.91% |
| S&P BSE MidCap | 14,502.82 | 14,804.21 | 2.08% |
Source- BSE/NSE
Top 5 best performing funds:
| Name | Week | 3Y | Category |
| HSBC INFRASTRUCTURE EQUITY | 8.9% | 4.7% | Sectoral |
| IDFC INFRASTRUCTURE | 7.7% | 15.2% | Sectoral |
| HSBC SMALL CAP EQUITY | 7.7% | 11.9% | Small Cap |
| ABSL SMALL CAP | 7.5% | 15.2% | Small Cap |
| HDFC INFRASTRUCTURE | 7.5% | 7.8% | Sectoral |
Source – Kuvera.in
Top 5 worst performing funds:
| Name | Week | 3Y | Category |
| KOTAK WORLD GOLD | -5.5% | -0.7% | Fund of Funds |
| INVESCO INDIA GOLD | -4.7% | 3.3% | Fund of Funds |
| HSBC BRAZIL | -4.4% | 13.2% | Fund of Funds |
| DSP WORLD GOLD | -4.1% | 0.1% | Fund of Funds |
| HDFC GOLD | -4.0% | 2.2% | Fund of Funds |
Source – Kuvera.in
Top 5 best performing ELSS funds:
| Name | Week | 3Y | Category |
| RELIANCE TAX SAVER | 5.6% | 10.7% | ELSS |
| IDFC TAX ADVANTAGE | 4.6% | 17.4% | ELSS |
| HSBC TAX SAVER | 4.6% | 14.2% | ELSS |
| BOI AXA TAX ADVANTAGE | 3.9% | 14.2% | ELSS |
| DSP TAX SAVER | 3.7% | 16.6% | ELSS |
Source – Kuvera.in
Top 5 worst performing ELSS funds:
| Name | Week | 3Y | Category |
| AXIS LONG TERM EQUITY | 1.8% | 15.2% | ELSS |
| IDBI EQUITY ADVANTAGE | 1.8% | 12.5% | ELSS |
| JM TAX GAIN | 1.8% | 17.4% | ELSS |
| ABSL TAX RELIEF96 | 1.9% | 16.2% | ELSS |
| BNP PARIBAS LONG TERM EQUITY | 2.3% | 11.1% | ELSS |
Source – Kuvera.in
What investors bought:
We saw the most inflows in these 5 Funds –
| Name | 1Y | 3Y | Category |
| HDFC MID CAP OPP | -3.2% | 16.4% | Mid Cap |
| PARAG PARIKH LONG TERM EQUITY | 6.5% | 15.8% | Multi Cap |
| HDFC SMALL CAP | -1.6% | 22.7% | Small Cap |
| UTI NIFTY INDEX | 10.1% | 15.1% | Index |
| AXIS LONG TERM EQUITY | 6.5% | 15.2% | ELSS |
Source – Kuvera.in
What investors sold:
We saw the most outflows in these 5 Funds (excluding liquid and short-term schemes) –
| Name | 1Y | 3Y | Category |
| KOTAK EQUITY OPP | 4.5% | 16.9% | Large &Mid Cap |
| MIRAE ASSET INDIA EQUITY | 9.0% | 18.7% | Multi Cap |
| SBI BLUE CHIP | 2.6% | 12.8% | Large Cap |
| ABSL FRONTLINE EQUITY | 4.1% | 13.9% | Large Cap |
| ABSL EQUITY SAVING | 2.4% | 9.7% | Hybrid |
Source – Kuvera.in
Movers and shakers at fund house:
1/ Axis Mutual Fund has announced that 4 persons have been designated as Key Personnel. These are Mahesh Thakur, Ajay Kumar Gupta, Aswin Patni and Viresh Joshi.
Quote of the week:
I like to think of ideas as potential energy. They’re really wonderful, but nothing will happen until we risk putting them into action.:Mae Jemison
#FeatureShowcase: TradeSmart
High Short Term Capital Gains (STCG) taxes can make a dent when you switch or redeem a fund. With TradeSmart, see what amount you can safely switch or redeem, with the lowest capital gains tax implications.
Activate TradeSmart to see all fund units outside the STCG window. For Equity (Debt), this means units bought more than 1 year (3 years) ago. Further, on the transaction page, check the exact Short Term and Long Term Capital Gains for your proposed transaction so you can plan better.
Activate TradeSmart today and let us know how we can make it better.
This market update was initially published by CNBCTV18 in the Personal Finance section.
Niveditha Vishwamithra is an Analyst at Kuvera.in: India’s first completely free Direct Mutual Fund investing platform.
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