New Delhi, Oct 14 | Gross inflows in equities are at a 6-month high and the sales of equity schemes is up 17.5 per cent month-on-month to Rs 179 billion.
As per Motilal Oswal Financial Services, 60 per cent of top-25 mutual fund schemes outperformed the markets.
According to Fund Folio report from Motilal Oswal Financial Services, the month of September saw an increase in sales of equity schemes (up 17.5 per cent MoM to Rs 179 billion).
Further, redemptions also cooled off marginally and stood at Rs 185 billion (down 2.7 per cent MoM), leading to slowdown in net outflows to Rs 6 billion in September versus outflows of Rs 38 billion recorded in August.
Mutual Fund (MF) industry’s asset under management (AUM) decreased 2.3 per cent MoM to Rs 26.9 trillion in September, primarily led by Liquid funds (Rs 697 billion), Balanced funds (Rs 78 billion) and Equity funds (Rs 52 billion).
After rising 17.9 per cent over the last three months, Equity AUM (incl. ELSS and Index funds) of domestic MFs declined a marginal 0.6 per cent MoM to Rs 8.1 trillion in September, led by the fall in market indices (Nifty -1.2 per cent MoM).
Motilal Oswal Financial Services’ Fund Folio is a handbook on the holdings of the top-20 domestic mutual funds in India.
In September, compared to other categories, Multi-cap schemes’ proportion to overall outflows were higher at Rs 11.4 billion. Large-cap and Mid-cap schemes saw outflows of Rs 5.8 billion and Rs 0.7 billion, respectively, while Small-cap funds received inflows of Rs 1.3 billion.
In September, 5 of the 10 stocks that saw maximum increase in value were from Technology.
Reliance Industries (RIL), Infosys, TCS, HCL Tech, Dr. Reddy’s Labs, Tech Mahindra, Wipro, Cipla, Ipca Labs and Maruti Suzuki saw maximum increase in value MoM.
Stocks that saw maximum decline in value MoM were ICICI Bank, Axis Bank, SBI, Bharti Airtel, Kotak Mahindra Bank, HDFC Bank, NTPC, ITC, L&T and HUL.