Large-cap Out-Performed in FY19 & Other MF News

All that you need to know about Mutual Funds this week

We released the second chapter of our serialized book Zen And the Art of Investing –  Simple stories to understand markets and our reaction to them!

Sensex has ended FY19 with the biggest gain in 4 financial years. With a growth of 17.30% in FY19, the index has fared better than FY18 and FY17, with growths of 11.30% and 16.88%, respectively. The Nifty 50 index rose 14.93% in FY19 and 10.25% in the previous fiscal year.

 

 

There was a significant divergence in the performance of large cap and small cap funds during this financial year as MidCap and SmallCap indices saw a fall of 3.03% and 11.57% respectively in FY19, after a stellar run in the previous two financial years.

In Conversations, we  reached out to Mr Harish Bihani, Fund Manager of ICICI Prudential Small Cap Fund over email for comments on the small cap space and their view behind their timing to allow lumpsum investment in this fund.

As the financial year ended, we saw last minute inflows into ELSS funds. 2 of the most invested schemes during this week were ELSS schemes. 

ICICI Prudential Mutual fund has launched the NFO for ICICI Prudential Bharat Consumption Fund. This open-ended equity scheme following the consumption theme will have Nifty India Consumption Index as its benchmark. The NFO will be open for subscription until 9/April.

 

Source: Google Finance

 

Index Returns:
Index Weekly open Weekly close Change
BSE Sensex 38,164.61 38,672.91 1.33%
Nifty 11,456.90 11,623.90 1.46%
S&P BSE SmallCap 14,758.80 15,027.36 1.82%
S&P BSE MidCap 15,076.89 15,479.62 2.67%

Source- BSE/NSE

 

Top 5 best performing funds:
Name Week 3Y Category
DSP WORLD GOLD 3.7% 2.9% Fund of Funds
ABSL BANKING & FINSERV 2.5% 23.2% Sectoral
ABSL GOLD 2.5% 2.9% Fund of Funds
MOTILAL OSWAL MIDCAP 30 2.2% 10.9% Mid Cap
RELIANCE BANKING 2.2% 22.2% Sectoral

Source – Kuvera.in

 

Top 5 worst performing funds:

Name Week 3Y Category
HSBC BRAZIL -8.9% 19.2% Fund of Funds
DHFL PRAMERICA EURO EQUITY -3.0% 4.5% Fund of Funds
FRANKLIN INDIA FEEDER EURO -2.5% 4.1% Fund of Funds
EDELWEISS EMERGING MARKETS OPP -2.1% 13.3% Fund of Funds
INVESCO INDIA GOLD -2.0% 3.1% Fund of Funds

Source – Kuvera.in

 

Top 5 best performing ELSS funds:
Name Week 3Y Category
RELIANCE TAX SAVER 2.4% 9.8% ELSS
INVESCO INDIA TAX 2.3% 16.7% ELSS
CANARA ROBECO EQUITY TAX SAVER 2.3% 15.8% ELSS
IDFC TAX ADVANTAGE 2.3% 17.1% ELSS
HSBC TAX SAVER 2.3% 14.0% ELSS

Source – Kuvera.in

 

What investors bought:

We saw the most inflows in these 5 Funds –

Name 1Y 3Y Category
MIRAE ASSET INDIA EQUITY 12.7% 18.7% Multi Cap
MIRAE ASSET TAX SAVER 11.7% 23.2% ELSS
PARAG PARIKH LONG TERM EQUITY 10.2% 14.8% Multi Cap
AXIS LONG TERM EQUITY 7.9% 15.2% ELSS
UTI NIFTY INDEX 13.5% 15.1% Index

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
ICICI PRU BLUECHIP  8.0% 16.1% Large Cap
HDFC MID CAP OPP 0.2% 16.6% Mid Cap
SBI BLUE CHIP 5.1% 12.8% Large Cap
ABSL EQUITY HYBRID 95 2.8% 12.3% Hybrid
L&T EMERGING BUSINESSES -7.7% 21.8% Small Cap

Source – Kuvera.in

 

Quote of the week:

I never see what has been done; I only see what remains to be done.

: Buddha

 

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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