What India’s Top Three Mutual Funds Bought and Sold in September
(Bloomberg) -- Inflows into Indian stock funds halted a four-month rising streak even as the $2 trillion equity market logged its best September in six years after the government’s surprise $20 billion break to companies.
Stock plans received 66.1 billion rupees ($931 million) last month, according to the Association of Mutual Funds in India. That’s 28% less than what the funds got in August.
Here’s what the top three asset managers bought and sold:
HDFC Mutual Fund
India’s top money manager held about $20 billion in equities, with financials accounting for 31% 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 $24 billion in more than 300 stocks. Financials made up about 40% of assets, followed by technology at 10%.
©2019 Bloomberg L.P.