Last week in Mutual Funds: 28th July

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

History was made this week as BSE Sensex made another all-time high crossing the 37,000 level on the way. As the chart above shows thats a CAGR of ~15% over 39 years. Continuing recovery in SmallCap and MidCap stocks came as a relief to investors.

HDFC AMC IPO was the other hot topic of the week – the issue was 83 times oversubscribed beating all market estimates. This further signifies the overall positive outlook for Mutual Fund Industry in India.

What worked best?

It was a positive week for Equity Markets. BSE Sensex and NIFTY went up by 2.30% and 2.44% respectively over the week. Smallcap and Midcap Indexes outperformed the large-cap indexes as Bse Smallcap was up by 4.64% and BSE Midcap was up by 4.71%.

Index Weekly opening Weekly close Change
BSE Sensex 36,496.37 37,336.85 2.30%
Nifty 11,010.20 11,278.35 2.44%
BSE Smallcap 15,721.43 16,450.20 4.64%
BSE Midcap 15,196.46 15,912.62 4.71%

Source- BSE/NSE

Top 5 Best Performing Funds Last Week:

Name Week 1Y
3Y
Category
HSBC INFRASTRUCTURE EQUITY GROWTH DIRECT PLAN 7.3% -12.1% 1.4% Sectoral/Thematic
HDFC INFRASTRUCTURE GROWTH DIRECT PLAN 6.9% -16.3% 1.5% Sectoral/Thematic
RELIANCE POWER AND INFRA GROWTH DIRECT PLAN 6.3% -3.9% 9.3% Sectoral/Thematic
RELIANCE TAX SAVER GROWTH DIRECT PLAN 6.0% -7.3% 6.6% ELSS
ICICI PRUDENTIAL NIFTY NEXT 50 INDEX GROWTH DIRECT PLAN 5.9% 5.0% 13.1% Index Funds

Source – Kuvera.in

What investors bought?

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

Fund 1Y
3Y
Category
L&T EMERGING BUSINESSES GROWTH DIRECT PLAN 6.8% 13.9% Small Cap Fund
AXIS FOCUSED 25 GROWTH DIRECT PLAN 23.3% 17.8% Focused Fund
KOTAK STANDARD MULTICAP GROWTH DIRECT PLAN 10.0% 14.4% Multi-Cap Fund
HDFC SMALL CAP GROWTH DIRECT PLAN 17.1% 19.9% Small Cap Fund
AXIS ARBITRAGE GROWTH DIRECT PLAN 6.8% 6.9% Arbitrage Fund

Source – Kuvera.in

Movers and shakers at Fund House:

1/ Invesco announced that its India Liquid fund will now be co-managed by Krishna Cheemalapati and Abhishek Bandiwdekar.

2/ DSP BlackRock Mutual Fund announced Mr Gopal Agrawal’s appointment to the post of Senior Fund Manager and Head, Macro Strategy.

In other news:

1/ Much awaited, HDFC AMC’s IPO was a great success as the issue was oversubscribed by 83 times.

2/ SENSEX reached an all-time high during the week and crossed the 37,000 mark for the first time. The index ended the week at 37,336.85

3/ Reports emerged that Samco Securities and Equity Intelligence India have applied with SEBI (Securities and Exchange Board of India) for license to launch their own Mutual Fund businesses.

Quote of the week

“I have not invested in the Indian markets. I should have, everybody should have, but I have missed it.” – Jim Rogers

 

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

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