Moneycontrol
Last Updated : Feb 20, 2018 01:42 PM IST | Source: Moneycontrol.com

MF inflows slowed from Dec peak; cautious on PSU banks: Mahesh Patil

According to Association of Mutual Funds in India (Amfi) data, investors have poured in a net Rs 1.06 lakh crore in mutual fund schemes last month as compared to a pullout of Rs 1.75 lakh crore in December.

Even as mutual fund flows have slowed from December peak, Mahesh Patil of Aditya Birla Sun Life AMC believes that long term investors may not be affected on an overall strong market outlook.

“Investors may have pre-empted the move on long term capital gains (LTCG) in the month of January. But February data looks pretty healthy so far,” Patil, Co-Chief Investment Officer, Aditya Birla Sun Life AMC, told CNBC-TV18 in an interview.

According to Association of Mutual Funds in India (Amfi) data, investors have poured in a net Rs 1.06 lakh crore in mutual fund schemes last month as compared to a pullout of Rs 1.75 lakh crore in December.

Speaking on other sectors, Patil is upbeat on the metals space. “Metal prices have been firm and many companies have free cash flow generation. There are opportunities in the distressed assets side as well,” he told the channel, adding that globally, the steel sector is looking positive.

On PSU banks, he remains cautious as real reform is yet to be seen. In fact, he expects the sector to take some time to recover.

However, non-banking financial companies (NBFCs), which have underperformed in the last six months, could do better going forth.

For information technology companies, Patil said that there has been some improvement in this quarter. “This year, there is a feeling that growth should be better. US is also doing well and along with increased discretionary spends, there could be an uptick in volumes in the IT space,” Patil said. Moreover, rupee’s levels are also giving it a tailwind, he added.
First Published on Feb 20, 2018 10:39 am

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