Last Week in Mutual Funds : 11th August

All that you need to know that happened last week in Mutual Funds.

Another landmark was achieved by the Indian Stock Markets as Sensex closed above 38,000 for the first time this week. It took the Sensex nine sessions to go from 37,000 to 38,000 index level.

SEBI announced that 8.62 lakh new folios (investor accounts) were opened in Indian Mutual Funds Industry in the month of June. The total number of folios now stands at 7.55 crore.

A Mint analysis of 102 listed companies showed that aggregate net profit, after adjusting for one-time gains and losses, rose 14.3% in the fiscal first quarter, the highest in nine quarters.

In global macro news, crude oil prices traded at a 7 week low as China announced a list of 333 US goods (including petroleum products) that the country is going to add import tariffs on.

What worked best?

BSE Sensex and NIFTY rose by 0.83% and 0.60% respectively over the week. Small Cap Index tumbled by 0.29% whereas Mid Cap Index witnessed a neutral week with a surge of 0.02%.

Index Weekly opening Weekly close Change
BSE Sensex 37,556.16 37,869.23 0.83%
Nifty 11,360.80 11,429.50 0.60%
S&P BSE SmallCap 16,833.52 16,784.20 -0.29%
S&P BSE MidCap 16,206.89 16,210.78 0.02%

Source- BSE/NSE

Top 5 Best Performing Funds Last Week:

Name Week 1Y 3Y Category
DSP BLACKROCK US FLEXIBLE EQUITY GROWTH DIRECT PLAN 2.5% 26.1% 14.2% Fund of Funds
EDELWEISS ASEAN EQUITY OFF SHORE GROWTH DIRECT PLAN 2.5% 14.5% 11.4% Fund of Funds
HSBC ASIA PACIFIC YIELD GROWTH DIRECT PLAN 2.4% 11.6% 12.1% Fund of Funds
UTI BANKING AND FINANCIAL SERVICES GROWTH DIRECT PLAN 2.4% 13.0% 16.5% Sectoral/Thematic
DSP BLACKROCK NATURAL RESOURCES AND NEW ENERGY GROWTH DIRECT PLAN 3.7% 1.2% 21.4% Sectoral/Thematic

Source – Kuvera.in

What investors bought?

We saw the most inflows last week in these 5 schemes –

Name 1Y 3Y Category
SBI BLUE CHIP GROWTH DIRECT PLAN 9.5% 11.2% Large Cap Fund
ADITYA BIRLA SUN LIFE TAX RELIEF96 GROWTH DIRECT PLAN 17.0% 13.5% ELSS
AXIS LONG TERM EQUITY GROWTH DIRECT PLAN 20.6% 13.0% ELSS
SBI MAGNUM MIDCAP GROWTH DIRECT PLAN 0.9% 7.8% Mid Cap Fund
UTI MID CAP GROWTH DIRECT PLAN 7.8% 8.5% Mid Cap Fund

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
KOTAK EQUITY ARBITRAGE GROWTH DIRECT PLAN 6.4% 6.7% Arbitrage Fund
MOTILAL OSWAL MOST FOCUSED MULTICAP 35 GROWTH DIRECT PLAN 8.4% 14.1% Multi Cap Fund
MAGNUM MIDCAP GROWTH PLAN -0.3% 6.5% Mid Cap Fund
ICICI PRUDENTIAL EQUITY AND DEBT GROWTH DIRECT PLAN 9.1% 12.3% Aggressive Hybrid Fund
FRANKLIN INDIA PRIMA GROWTH PLAN 8.9% 12.2% Mid Cap Fund

Source – Kuvera.in

Movers and shakers at Fund House:

1/ Indiabulls Mutual Fund announced that they are appointing Raghav Iyengar as CEO (Chief Executive Officer) He will also be a whole time director at the Mutual Fund Company.

2/ Essel Mutual Fund announced the end of Essel Flexible Income Fund via an addendum. They were unable to maintain SEBI’s norms for minimum AUM (Assets Under Management).

3/ Mirae Asset Fund announced that Vrijesh Kasera will be solely managing the Healthcare fund. Earlier Neelesh Surana was jointly managing the scheme.

4/ IIFL Mutual Fund is seeking nod from SEBI to launch it’s IIFL US Technology Fund. The fund will invest in “equity and equity-related securities of companies listed on recognized stock exchanges in the US predominantly forming a part of Information Technology and Internet Sectors”.

Quote of the week:

As a bull market continues, almost anything you buy goes up. It makes you feel that investing in stocks is very easy and safe and that you’re a financial genius. – Ron Chernow

 

This market update was initially published by CNBCTV18 in the Markets section.

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