What India's Three Largest Mutual Funds Bought and Sold in July
(Bloomberg) -- Investors in Indian equity mutual funds bought more last month, unfazed by the selloff that saw the nation’s $1.9 trillion market log its worst July in 17 years.
Stock plans received 81.1 billion rupees ($1.2 billion), according to the Association of Mutual Funds in India. That’s an increase from 76.6 billion rupees that the funds got in June and the highest in four months.
Here’s what the top three asset managers bought and sold last month:
HDFC Mutual Fund
India’s top money manager held about $21 billion in equities, with financials accounting for 32% of stock assets followed by industrial companies at 14%.
ICICI Prudential Mutual Fund
The money manager held equity assets of about $18 billion, with financials making up 28% of assets followed by materials at 10%.
SBI Funds Management
The fund house held about $23 billion in more than 340 stocks. Financials made up about 40% of assets, followed by technology at 11%.
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