(Bloomberg) -- Inflows into Indian equity funds rose to a five-month high in January amid signs of a revival in small- and mid-cap stocks, a battered corner of the $2.2 trillion market for two straight years.
Stock plans took in 78.8 billion rupees ($1.1 billion) last month, according to the Association of Mutual Funds in India. That’s the highest since August.
Here’s what the top three asset managers bought and sold:
HDFC Mutual Fund
India’s largest money manager held $22 billion in equities, with financials accounting for a third of the stock assets, followed by industrial companies at 12%.
ICICI Prudential Mutual Fund
The money manager held equity assets of $21 billion, with financials making up 28%, followed by materials at 9%.
SBI Funds Management
The fund house held about $28 billion in over 300 stocks. Financials made up about 41% of the assets, followed by technology at 9%.
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