Last Week in Mutual Funds : 4th August

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

It was an eventful week for the markets. BSE (Bombay Stock Exchange) announced that it’s Mutual Funds platform BSE StarMF processed 98 lakh transactions totalling Rs. 50,400 Crore in the first 4 months of the ongoing Financial Year. RBI hiked repo rate by 25 basis points (bps) to 6.5%. This was second continuous rate hike by the Central Bank. India’s June infrastructure output grew at a 7-month high of 6.7%.

What worked best?

The Equity markets continued there positive trend this week. BSE Sensex and NIFTY were up by 0.59% and 0.74% respectively over the week. Small Cap and Mid Cap Indexes outperformed the large-cap index and were up by 2.33% and 1.85% respectively. Pharma & healthcare was the sector of choice as 4 of the Top 5 performing funds were from that sector.

Index Weekly opening Weekly close Change
BSE Sensex 37,336.85 37,556.16 0.59%
Nifty 11,278.35 11,360.80 0.73%
S&P BSE SmallCap 16,450.20 16,833.52 2.33%
S&P BSE MidCap 15,912.62 16,206.89 1.85%

Source- BSE/NSE

Top 5 Best Performing Funds Last Week:

Name Week 1Y 3Y Category
RELIANCE PHARMA GROWTH DIRECT PLAN 5.3% 15.9% 2.7% Sectoral/Thematic
SBI HEALTHCARE OPPORTUNITIES GROWTH DIRECT PLAN 4.3% -5.7% -4.8% Sectoral/Thematic
UTI HEALTHCARE GROWTH DIRECT PLAN 4.3% 3.1% -2.4% Sectoral/Thematic
SBI BANKING AND PSU GROWTH DIRECT PLAN 3.8% 6.8% 8.0% Banking and PSU Fund
TATA INDIA PHARMA AND HEALTHCARE GROWTH DIRECT PLAN 3.7% 4.5% -2.5% Sectoral/Thematic

Source – Kuvera.in

What investors bought?

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

Name 1Y 3Y Category
ICICI PRUDENTIAL EQUITY ARBITRAGE GROWTH DIRECT PLAN 6.5% 6.8% Arbitrage Fund
L&T EMERGING BUSINESSES GROWTH DIRECT PLAN 8.9% 21.1% Small Cap Fund
HDFC SMALL CAP GROWTH DIRECT PLAN 19.5% 19.6% Small Cap Fund
AXIS FOCUSED 25 GROWTH DIRECT PLAN 20.0% 17.4% Focused Fund
ICICI PRUDENTIAL NIFTY NEXT 50 INDEX GROWTH DIRECT PLAN 7.5% 13.6% Index Funds

Source – Kuvera.in

Movers and shakers at Fund House:

1/ Edelweiss Mutual Fund appointed Hardik Verma as an additional fund manager for their Multi-Asset Allocation Fund. Bharat Lahoti will keep managing the equity portion of the scheme.

2/ Union Mutual Fund appointed Parijat Agrawal and Hardick Bora as co-fund managers of the Union Equity Savings Fund.

3/ JM Financial Mutual Fund appointed Vikas Agrawal as fund manager for JM Dynamic Debt FundShalini Tibrewala will now manage JM Money Market Fund.

4/ IIFL Mutual Fund appointed of Anup Maheshwari as the joint Chief Executive Officer and Chief Investment Officer (CIO). Maheshwari was earlier at DSP BlackRock as CEO (Equities).

Quote of the week

“The real money in investing will have to be made – as most of it has been in the past – not out of buying and selling, but out of owning and holding securities, receiving interest and dividends, and benefiting from their long-term increase in value.”  – Benjamin Graham

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

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