What India’s Top Three Mutual Funds Bought and Sold in October
Here’s what HDFC Mutual Fund, ICICI Prudential Mutual Fund & SBI Funds Management bought and sold in October.
(Bloomberg) -- Inflows into Indian stock funds declined to the lowest since May even as the $2.1 trillion equity market rose for the second straight month in October.
Stock plans received 60.2 billion rupees ($844 million) last month, according to the Association of Mutual Funds in India. That’s 9% less than what they got in September and the smallest inflow since May.
Here’s what the top three asset managers bought and sold:
HDFC Mutual Fund
India’s top money manager held about $22 billion in equities, with financials accounting for 34% of stock assets followed by industrial companies at 13%.
ICICI Prudential Mutual Fund
The money manager held equity assets of about $21 billion, with financials making up 29% of assets followed by materials at 9%.
SBI Funds Management
The fund house held about $26 billion in more than 300 stocks. Financials made up about 42% of assets, followed by energy at 9%.
--With assistance from Nupur Acharya and Nikita Batra.
To contact the reporter on this story: Ameya Karve in Singapore at akarve@bloomberg.net
To contact the editors responsible for this story: Lianting Tu at ltu4@bloomberg.net, Ravil Shirodkar, Margo Towie
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