Tag: equity funds

TRUST MF’s first equity scheme ‘Flexi Cap Fund’ to launch in April: Should you consider investing?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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TRUST Mutual Fund (MF) will launch its first equity fund in April 2024. Named TRUSTMF Flexi Cap Fund, the scheme will be open-ended and invest across large-cap, mid-cap, and small-cap stocks. The new fund offer (NFO) of the scheme will be open between April 5 to April 19, 2024.

Since its inception in February 2021, Trust Asset Management Company (AMC) has primarily focused on debt funds.

The announcement of the TRUSTMF Flexi Cap Fund follows the recent addition of Aakash Manghani to the team, alongside Mihir Vora, who assumed the role of chief investment officer in October 2023.

About the fund

Anchored by its investment objective to provide long-term growth in capital and income, TRUSTMF Flexi Cap Fund will manage investments in a diversified portfolio of equity and equity-related securities across the entire market capitalisation spectrum, along with debt and money market instruments.

Investors will be able to opt for either the Regular Plan or the Direct Plan, with options including Growth Option and Income Distribution cum Capital Withdrawal (IDCW) Option.

The scheme will impose no entry load, while an exit load of 1% will be applicable if redeemed or switched out within 180 days from the date of allotment, thereafter transitioning to nil.

Investment considerations

With the ability to invest across companies of varying market capitalisations, the fund will facilitate diversification, thus mitigating risk, the mutual fund house said.

Its flexi cap portfolio will offer flexibility to navigate effectively under different market cycles.

“The fund will be well-suited for various investor profiles, including new investors seeking exposure to different market caps through a single fund, core equity portfolio builders aiming to construct a well-rounded investment portfolio, and long-term investors seeking potential wealth creation adaptable to varying market conditions,” Trust Mutual Fund said.

However, investors should consider their risk tolerance level.

While the fund offers diversification to mitigate risk, equity investments inherently carry market risk.

Investors can consult a financial adviser to determine if the TRUSTMF Flexi Cap Fund will be suitable for their investment needs and risk appetite.

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Equity MFs see 36th month of inflows in February, new fund offers garner ₹9,388 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Equity mutual funds in India have maintained their upward trajectory, marking the 36th consecutive month of inflows, as per data released by the Association of Mutual Funds in India (AMFI). The latest figures for February 2024 reveal a surge in inflows to ₹26,703.06 crore, up from ₹21,749 crore in January 2024.

Breaking down the numbers, Small cap funds emerged as the frontrunners, witnessing a net inflow of ₹2,922.4 crore. The mid cap funds secured a net inflow of ₹1,808.2 crore, and large cap funds followed closely with a net inflow of ₹921.1 crore.

Equity Linked Savings Scheme (ELSS) inflows stood at ₹339 crore versus ₹532 crore in January 2024, AMFI data showed.

Hybrid schemes attracted a net inflow of ₹18,105.08 crore.

Although slightly lower than January’s figures of ₹20,637 crore, the continued appeal of hybrid schemes highlights investors’ ongoing interest in balanced investment options that provide exposure to both equity and debt.

Liquid funds, known for their stability and liquidity, saw a robust net inflow of ₹83,642.33 crore in February, a significant increase from January’s figure of ₹49,468 crore.

Exchange-Traded Funds (ETFs) also experienced a notable uptick, attracting a net inflow of ₹6,461.67 crore in February, up from ₹571 crore in January.

However, amidst the positive trends, Credit Risk funds faced an outflow of ₹366 crore in February, slightly higher than the outflow of ₹303 crore in January.

Equity New Fund Offers (NFOs) played a significant role in driving the positive momentum, attracting a total of ₹9,388 crore. Notably, the SBI Energy NFO stood out as a major contributor, raking in ₹6,700 crore alone.

The strong response to equity NFOs indicates a sustained appetite for new investment opportunities among market participants.

The total assets under management (AUM) for the mutual fund industry climbed to ₹54.5 lakh crore.

Commenting on the numbers, Anand Vardarajan, Business Head – Banking, Institutional Clients, Alternate Products and Product Strategy, Tata Asset Management said, “Equity inflows continue to soar largely led by some NFOs. Notably thematic/sectoral have seen massive interest. Small and midcap flows have been buoyant. Most categories have seen positive flows in equity. Multi asset also saw a combination NFOs also led by NFO flows. The category has seen investor interest as markets scale new highs and we are seeing flows getting channelised in balanced advantage funds and multi asset with a view to diversify/derisk.”

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Equity MFs see 35th month of inflows in January, debt funds attract ₹76,469 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Equity mutual funds in India have maintained their upward trajectory, marking the 35th consecutive month of inflows, as per data released by the Association of Mutual Funds in India (AMFI). The latest figures for January 2024 reveal a surge in inflows to ₹21,749 crore, up from ₹16,997 crore in December 2023.

In a detailed breakdown, small-cap funds witnessed an inflow of ₹3,257 crore in January, showing a marginal decline from ₹3,857 crore in December 2023.

Largecap funds witnessed inflows of around ₹1,287.05 crore as against an outflow of ₹280.94 crore in December.

Mid-cap funds, however, saw increased investor interest with an inflow of ₹2,061 crore, up from ₹1,393 crore in December.

Meanwhile, credit risk funds experienced an outflow of ₹303 crore, down from ₹368 crore in the preceding month of December 2023.

Exchange-Traded Funds (ETFs) saw a significant uptick in inflows, reaching ₹571 crore in January compared to ₹200 crore in December 2023.

This growth signals a robust investor interest in ETFs in the early months of 2024.

Liquid funds, typically considered a safer haven, recorded an inflow of ₹49,468 crore in January, rebounding from the outflow of ₹39,675 crore in the previous month.

New Fund Offers (NFOs) continued to attract investor attention, raising ₹6,817 crore in January.

Breaking down the sectoral trends further, dividend yield funds experienced an inflow of ₹382 crore in January, marking an increase from ₹279 crore in December 2023.

Equity-Linked Savings Schemes (ELSS) saw a substantial turnaround with an inflow of ₹532 crore, compared to an outflow of ₹314 crore in the preceding month.

Total debt scheme inflows reached ₹76,469 crore, demonstrating a positive shift from the outflow of ₹75,560 crore in December 2023.

Hybrid funds, combining equity and debt components, also observed a surge, attracting ₹20,637 crore in January, up from ₹15,009 crore in December.

Corporate bond funds saw an impressive inflow of ₹1,301 crore, significantly higher than the ₹188 crore inflow recorded in December.

The total assets under management (AUM) for the mutual fund industry climbed to ₹52.74 lakh crore.

Commenting on the data, Sunil Subramaniam, MD & CEO of Sundaram Mutual Fund, expressed optimism.

He emphasised the success of the industry in repositioning large-cap and larger mid-cap funds, given the significant valuation differences.

He also highlighted the strength of Systematic Investment Plans (SIPs) and the positive trend in mid-cap investments.

Anthony Heredia, MD & CEO of Mahindra Manulife Mutual Fund, noted a shift in investor preference towards large and mid-cap funds, highlighting the decline in small-cap flows.

He also discussed the significance of multi-asset funds in attracting fixed-income investments.

While NFOs attracted substantial funds, Heredia cautioned against thematic and sectoral equity NFOs, urging investors to maintain diversification across capitalisations.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

These nine mutual funds managed to beat benchmarks over last decade: Check the top performer

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Identifying resilient mutual funds becomes paramount, especially during challenging market conditions. Value Research, a financial analysis platform, conducted an analysis of 70 funds in the growth category with a 10-year track record.

The growth category encompasses flexi-cap funds, large- and mid-cap funds, tax-saving funds, and value funds.

Out of the 70 funds scrutinised, nine funds exhibited resilience by consistently outperforming their category averages and benchmarks during market downturns.

In short, it can be said that these nine funds have been the most dependable ones in the last 10 years.

These funds that have performed better than their benchmarks and category average at least 65% of the time during significant market falls, Value Research said.

Take a look:

(Source: Value Research; *S&P BSE 500 TRI’s five-year daily rolling returns since 2019)

The Parag Parikh Flexi Cap Fund has emerged as the top-performer among the nine identified funds.

This fund has consistently outshone its peers over the last decade. A key contributing factor to its success is its flexibility in investing in international companies, maintaining an average of 22% in international equities, Value Research said.

This strategy has enabled the fund to generate alpha, delivering extra returns compared to other flexi-cap funds.

Notably, a common thread runs through all the funds on this list, with the exception of Quant ELSS Tax Saver Fund—they follow the ‘growth at a reasonable price (GARP)’ investment style.

The GARP strategy is a balanced approach, combining elements of both growth and value investing. In essence, it seeks to identify growing companies that are not overly expensive, allowing them to withstand market downswings without drastic reactions, Value Research said.

However, it’s essential to highlight that these funds are not any recommendations.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Four new fund offers open for subscription today: Should you invest in them?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Four new fund offers (NFOs) have opened for subscription on Wednesday, January 17. These include Groww Banking & Financial Services Fund, Motilal Oswal Large Cap Fund, Old Bridge Focused Equity Fund and UTI Nifty IT ETF. All the NFOs are open-ended in nature.

Here are the details of all the four NFOs:

Groww Banking & Financial Services Fund

An offering from Groww Mutual Fund, this is an equity scheme investing in banking and financial services-related sectors.

The primary investment objective of the scheme is to generate consistent long-term returns by investing in equity and equity-related instruments of banking and financial services companies and other related sectors or companies. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved, the fund house said.

The performance of Groww Banking and Financial Services Fund is benchmarked against the Nifty Financial Services (Total Return Index).

There are no entry and exit loads attached to the NFO.

The minimum subscription amount allowed is ₹500.

The scheme is open till January 31, 2024.

Motilal Oswal Large Cap Fund

An offering from Motilal Oswal Asset Management Company (MOAMC), this equity scheme is strategically designed to provide investors with a unique opportunity to tap into the potential of the large-cap segment.

The investment objective is to achieve long-term capital appreciation by predominantly investing in equity and equity-related instruments of large-cap companies.

However, there can be no assurance that the investment objective of the scheme will be realised, the fund house said.

The fund aims to maintain a strategically balanced portfolio with exposure of a minimum of 80% in the Nifty 100 large-cap stocks, complemented by a thoughtful 20% allocation in small-cap/Mid/IPO/Pre-IPO/Foreign Equity.

The product is designed for investors looking for long-term capital growth. It is ideal for investors wanting to invest in equity and equity-related instruments of large-cap stocks. The fund’s performance will be benchmarked against Nifty 100 TRI, Motilal Oswal AMC said.

The NFO is available till January 31, 2024.

Old Bridge Focused Equity Fund

The inaugural fund from Old Bridge Mutual Fund, the NFO is designed to generate long-term capital appreciation by investing in equity and equity-related instruments.

This approach involves up to 30 companies across various market capitalisations, including mid-cap, small-cap, and large-cap segments. It is important to note that while the scheme has outlined its objectives, there is no assurance or guarantee of realising these goals, the fund house said.

To gauge the fund’s performance, it will be benchmarked against the S&P BSE 500 TRI.

There is no entry load for investors. However, an exit load is applicable, with a rate of 1% if redeemed or switched out within 365 days from the date of allotment.

The NFO is available till January 19, 2024.

UTI Nifty IT ETF

An offering from UTI Mutual Fund, this is an open-ended scheme replicating/tracking Nifty IT TRI.

The investment objective of the scheme is to provide returns that, before
expenses, correspond to the total returns of the securities as represented
by the underlying index, subject to tracking error. However, there is no guarantee or assurance that the investment objective of the scheme will be achieved, the fund house said.

The minimum initial investment amount is ₹5,000 and in multiples of
₹1 thereafter. The subsequent minimum investment amount is ₹1,000
and in multiples of ₹1 thereafter.

There are no entry and exit loads attached to the scheme.

The NFO is available till January 22, 2024.

Investment considerations

Investing in new fund offers (NFOs) requires careful consideration of the fund’s objectives, market conditions, and individual financial goals. The four NFOs currently open for subscription offer diverse investment opportunities.

Consulting with a financial advisor can provide insights into whether these funds align with one’s overall investment strategy. Additionally, staying informed about market trends and regularly reviewing the fund’s performance after investment is crucial for making sound financial decisions, experts say.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

PPFAS Flexi Cap most popular fund of 2023, Axis schemes continue to struggle

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The equity market’s performance in 2023 was mirrored in the mutual funds and hence substantial investments flowed into equity funds across various sectors. The mutual fund industry surged from ₹8.25 lakh crore asset under management (AUM) in 2013 to ₹50 lakh crore AUM in 2023 over the span of a decade.

However, some funds led the inflow rally from the front, while many erstwhile toppers lost their magic.

Standing out among the schemes, the Parag Parikh Flexi Cap Fund which has showcased consistent outperformance against benchmarks in the last 3-5 years sits on the top of the charts in 2023 as well.

Securing the top position for the most substantial inflows in 2023, the scheme garnered ₹11,400 crore, marking an 18% year-on-year (YoY) surge from net inflows of ₹9,600 crore in 2022.

The scheme’s success is underscored by its average returns of over 38% in the past year.

Joining the investment elite, SBI Contra Fund attracted net flow of ₹9,000 crore, while Quant Small Cap Fund received a cash injection of ₹7,000 crore.

Nippon Small Cap came close to securing a podium finish with ₹6,600 crore, and SBI Large and Mid Cap Fund claimed the 5th spot with net inflows of ₹6,300 crore.

Noteworthy is the inclusion of two actively managed small-cap funds in the top 5, highlighting the rise of Quant Mutual Fund schemes on the popularity ladder.

Here’s a look at the five schemes that got the highest inflows in 2023:

(Source: Value Research)

Quant Mutual Fund schemes witnessed rise, recently reaching a total AUM of ₹50 thousand crore. Despite being a relatively young fund house known for high-churn and rule-based portfolios, Quant has made a significant mark in the industry.

The last few years saw schemes from the fund house topping the return charts across categories.

However, the year wasn’t favorable for all.

Axis Mutual Fund continued to be battered by the issue’s cropped up after the front-running saga unfolded leading to legal battles. Even a bull market couldn’t help Axis schemes this year as three Axis schemes found themselves among the five funds experiencing the maximum outflows in 2023.

Axis Bluechip Fund, Axis ELSS Tax Saver Fund, and Axis Focused 25 Fund faced significant outflows.

Topping the list of laggards was SBI Nifty 50 ETF, witnessing outflows totaling ₹11,200 crore.

Industry experts suggest that 2023 favored active funds over passive ones, a trend evident in the inflow charts.

(Source: Value research)

In conclusion, while some mutual fund schemes continued to shine with a Midas touch in 2023, others lost their magic.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Thematic funds lead Dec equity inflows, small caps follow: Where should you invest now?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Sectoral or thematic funds witnessed the highest inflows in the equity category in the month of December, according to data released by AMFI (Association of Mutual Funds in India). They recorded net inflow of ₹6,006 crore, reflecting a 205% increase compared to the previous month.

In November 2023, thematic funds saw ₹4,041-crore inflows.

Thematic funds are equity mutual funds that invest in stocks tied to a theme. For instance, an infrastructure theme fund will invest in cement, power, steel, among other sectors.

Talking about the rising inflows in the category, Melvyn Santarita, Analyst and Manager Research at Morningstar Investment Research India, said the launch of four new funds in the month, namely Axis India Manufacturing Fund, DSP Banking & Financial Services Fund, Kotak Healthcare Fund and Quant Commodities Fund supported the category.

These new fund offers (NFOs) collectively amassed $4,259 crore, significantly contributing to the category’s heightened influx.

Moreover, the small-cap category maintained its robust momentum, experiencing net inflows of ₹3,857.5 crore in December. Notably, the launch of Motilal Oswal Small Cap Fund was instrumental in garnering ₹1,226 crore during its NFO stage.

Gopal Kavalireddi, Vice President of Research at FYERS, highlighted investors’ increased allocation to this market segment, considering the underperformance of large caps over the past nine months.

Conversely, the mid-cap category observed a comparatively moderate flow of ₹1,393 crore in December.

“This revealed a noteworthy dip in comparison to the preceding four months (August to November), potentially attributed to investors opting to capitalise on profits within this category, given its recent significant surge. Despite a fair bit of redemptions in the small-cap category, the quantum of purchases outweighed the outflows considerably,” Santarita pointed out.

However, the equity landscape saw categories like large-cap (₹280.9 crore), focused (₹490.9 crore), and ELSS (₹313.5 crore) experiencing net outflows.

The investors’ preference for passive investment vehicles, such as index funds and ETFs, might be a contributing factor to the disappointing flows in the large-cap category over the past year, as per Santarita’s insights.

In the hybrid schemes category, net flows reached ₹15.009 crore, propelled by an influx of ₹10,645 crore into arbitrage funds.

This shift in allocation between equity and debt has been a consequence of Indian markets soaring to all-time highs, noted Kavalireddi, highlighting the inflows into multi-asset allocation funds and balanced advantage funds.

A look at calendar year 2023

For the calendar year 2023, equity funds amassed net inflows of ₹1.61 lakh crore, with a significant 39% portion, amounting to ₹63,949 crore, being directed towards mid- and small-cap mutual funds.

Sectoral/thematic funds emerged as the subsequent favoured category, amassing ₹30,841 crore for the year.

On the contrary, large-cap and focused funds were the only sectors experiencing negative inflows of approximately 1.7% each.

Where should you invest now?

Regarding investment strategies, Kavalireddi suggested a need for portfolio rebalancing between equity and debt, emphasising the substantial outperformance of Nifty mid-cap and Nifty small-cap by 46.6% and 55.6%, respectively, in just nine months.

“With an anticipated reversal in the interest rate cycle, investors are urged to consider this and reallocate across market capitalisations,” he said.

Kavalireddi also highlighted the likelihood of the broader market undergoing consolidation in the current year, citing extreme valuations in mid and small caps compared to the relatively underperforming large-cap stocks.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Equity mutual funds see 34th month of inflows in December, midcap growth nearly halves

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Equity mutual funds witnessed the 34th consecutive month of inflows in December 2023, with a rise to ₹16,997 crore from November’s ₹15,514.5 crore, according to Association of Mutual Funds in India (AMFI) data. This surge reflects the investor interest in equities despite market fluctuations.

December’s inflows showcased varied trends across different fund categories.

Small-cap funds saw a rise, attracting ₹3,857 crore compared to the previous month’s ₹3,699 crore.

Conversely, large-cap funds experienced an outflow of ₹281 crore, contrasting with November’s ₹307 crore inflow.

Mid-cap funds recorded an inflow of ₹1,393 crore, marking a decrease from the previous month’s ₹2,666 crore.

One of the standout categories, the dividend yield segment, demonstrated growth, recording an inflow surge to ₹279 crore in December 2023 from ₹173 crore in November.

However, Equity Linked Savings Scheme (ELSS) faced an outflow of ₹314 crore, a notable contrast to the previous month’s ₹104.4 crore outflow.

In an exclusive interaction with CNBC-TV18, G Pradeepkumar, CEO of Union Asset Management Company, highlighted the industry’s landmark achievement in crossing the ₹50 lakh crore AUM mark.

He emphasised the improved net flows in equity compared to the previous month, indicating continued investor confidence in mutual funds.

Additionally, he stressed the significance of Systematic Investment Plans (SIPs) remaining overpriced, urging caution among investors.

Pradeepkumar advised investors to exercise caution, particularly regarding small-cap investments, suggesting a staggered approach due to the market’s volatile nature.

He also forecasted a potential reversal in the interest rate cycle in the upcoming 2-3 years, indicating the need for a proactive investment strategy.

Despite fluctuations and contrasting trends in various fund categories, the overall faith of investors in mutual funds remained robust, indicating a resilient market sentiment towards equities.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Mutual fund industry AUM crosses ₹50 lakh crore-mark for the first time in December

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The mutual fund (MF) industry’s Assets Under Management (AUM) reached ₹50.78 lakh crore for the first time in December 2023, Association of Mutual Funds in India (AMFI) data showed. MF folios surged to an all-time high of 16.49 crore, showcasing an increase from the 16.18 crore recorded in November 2023.

Specifically, retail MF folios, comprising equity, hybrid, and solution-oriented schemes, reached 13.19 crore in December 2023, displaying a surge from 12.92 crore in November 2023.

Retail AUM, encompassing equity, hybrid, and solution-oriented schemes, stood at ₹28.88 lakh crore in December 2023, with an average AUM of ₹28.36 lakh crore, the AMFI data showed.

The equity inflows continued for 34 consecutive months, reaching ₹16,997 crore in December 2023 as compared to ₹15,514.5 crore in the previous month.

Breaking down the inflows by fund categories, small-cap funds saw an inflow of ₹3,857 crore in December, marking an increase from November’s ₹3,699 crore.

Large-cap funds experienced an outflow of ₹281 crore, while ₹307 crore inflow was recorded in November. In contrast, mid-cap funds recorded an inflow of ₹1,393 crore, showing a decrease from the previous month’s inflow of ₹2,666 crore.

Meanwhile, ETF inflows stood at ₹200 crore, down from ₹833.62 crore recorded in November.

Liquid funds witnessed an outflow of ₹39,675 crore, a significant jump from the outflow of ₹644.7 crore in the previous month.

Similarly, credit risk funds saw an outflow of ₹368 crore, rising from ₹253.7 crore in November.

On the other hand, corporate bond funds observed an inflow of ₹188 crore, contrasting the outflow of ₹1,578.4 crore in the previous month.

The dividend yield category saw an uptick in inflows, surging to ₹279 crore in December 2023 from ₹173 crore in the previous month.

ELSS (Equity Linked Savings Scheme) recorded an outflow of ₹314 crore compared to the outflow of ₹104.4 crore in the preceding month.

Furthermore, within the debt scheme category, there was a substantial outflow of ₹75,560 crore, a significant rise from the outflow of ₹4,706.7 crore in the prior month.

The hybrid fund segment witnessed inflows of ₹15,009 crore compared to ₹13,538 crore in the previous month.

Further highlighting investor behaviour, Systematic Investment Plan (SIP) inflows totalled ₹17,610 crore in December 2023.

As per Akhil Chaturvedi, Chief Business Officer, Motilal Oswal Asset Management Company, the overall investor sentiment remained buoyant on back of persistence of markets strength.

AMFI’s Chairman, Navneet Munot outlined the mutual fund industry’s trajectory, aiming for a ₹100 lakh crore AUM and 10 crore investors in the near future.

Reflecting on the industry’s rapid growth, AMFI’s Chief Executive, Venkat Chalasani, highlighted the significant leap from ₹40 lakh crore to ₹50 lakh crore AUM within just over a year.

Chalasani credited the concerted efforts of the entire mutual fund ecosystem, including AMCs, regulators, and distributors, in expanding investor reach and penetration across the nation.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Stock buying by local India funds in 2023 exceeds foreign inflow

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian local funds have overtaken foreign investors as the biggest buyers of shares so far this year, helping provide an anchor to the market amid an uncertain global backdrop.

Powered by continued inflows from retail investors, equity purchases by local institutions — including mutual funds and insurers — have climbed to $16.5 billion for the year thus far. Domestic investors plowed money into equity funds for a 31st straight month in September.

In contrast, foreign funds have been trimming their holdings in recent weeks as concern over higher-for-longer US rates dents appetite for riskier assets. As the world’s fastest growing major economy, India has emerged a darling for emerging-market investors in 2023 as sentiment toward China soured, but that buying momentum has weakened of late. International funds turned sellers in September after six consecutive months of purchases and their year-to-date inflows now stand at $14.2 billion.

Domestic funds are on course to dominate inflows for the third straight year, thanks to the retail investing boom took off during the pandemic. Still, with two months left to go this year, local funds’ purchases in Indian equities are roughly half the $35.8 billion amount seen for all of last year.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow