Mutual fund schemes witnessed net inflow of Rs 1.33 lakh crore last month as compared to an outflow of Rs 1.51 lakh crore in September, according to the data released by Association of Mutual Funds in India on November 9.
Assets of mutual funds grew by over 7 percent in October but equity mutual funds inflows hit a 5-month low in the same period despite a rise in equity markets.
Amid intermittent bouts of volatility, BSE's benchmark Sensex rose 3.6 percent last month while the Nifty50 index registered a rise of 3.5 percent in the same period and second consecutive month when the index closed in the green.
Mutual fund schemes witnessed a net inflow of Rs 1.33 lakh crore last month as compared to an outflow of Rs 1.51 lakh crore in September, according to the data released by Association of Mutual Funds in India on November 9.
The inflows helped the asset base of the MF industry grow by almost 7.5 percent taking the total AUM to Rs 26.32 lakh crore.
Equity mutual funds witnessed a net inflow of Rs 6,015 crore in October, the lowest in the last five months. Open-ended equity schemes witnessed an infusion of Rs 6,026 crore, while there was a small outflow of Rs 11 crore from close-ended equity plans, translating into a net inflow of Rs 6,015 crore in October.
Inflows into equity funds declined further during October to Rs 6,000 from Rs 6,600 crore in September 2019. However, it remains significant in the overall context. But, flows from Systematic Investment Plans (SIP) remain strong at Rs 8,122 crore.
“MF inflows during the month of October clearly suggest the maturing of Indian investors. Though the market was up by 4 percent each in Sep and Oct, MF inflows behaved counter-cyclical,” Shailendra Kumar, CIO at Narnolia Investment Advisors Ltd told Moneycontrol.
“October inflow is a 5-month low figure. At the same time, more systematic and long term structural inflows in terms of SIP have remained stable at Rs 8245 crore,” he said.
We have collated a list of top 30 stocks, from ICICI Securities, that fund managers bought and sold in October:
Among large caps, ICICI Lombard, Bharti Infratel, United Breweries, HDFC AMC and Bajaj Finserv witnessed the highest buying during October 2019.
Largecap stocks, which saw selling by AMCs on a consolidated level were Zee Entertainment, Godrej Consumer, Berger Paints, NMDC and Siemens.
In midcaps, stocks like Godrej Industries, Motilal Oswal Financial Services, 3M, Escorts and NBCC witnessed buying during October 2019
Midcap stocks, which saw selling by AMCs were GMR Infra, Adani Power, Castrol India, RBL Bank, and Sterlite Technologies.
In smallcaps, stocks like Bajaj Consumer Care, J Kumar Infra, Fortis Healthcare, PVR and Can Fin Homes witnessed the highest buying during October 2019.
Small-cap stocks, which saw selling by AMCs were Asahi India Glass, Zensar Technologies, Rites, Ircon International and South Indian Bank.
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