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    All that you need to know that happened last week in Mutual Funds

    All that you need to know that happened last week in Mutual Funds

    All that you need to know that happened last week in Mutual Funds
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    By Manvendra Singh Rathore   IST (Updated)

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    Inflation reached a 10 month low of 3.69% in August, down from 4.17% in July.

    Investor inflows into Small Cap schemes continued as 2 of the 5 most bought schemes this week on Kuvera belonged to this category. The top two equity schemes bought by Kuverians over the last 3 months are also Small Cap Schemes. Investors will now have one more choice in the Small Cap space as BOI AXA Mutual fund gears up to launch its Small Cap fund.
    Aug 2018 witnessed Rs 7,600 Crores in SIP inflows compared to Rs 3,469 Crores in Aug 2016 - a jump of 219% in two years. The total SIP inflows this Financial Year (April - Aug) is already at Rs 36,760 Crores, that is 54% of total inflow in the 2017-18 FY. Increased awareness of the simplicity and advantages of SIP is largely responsible for this growth.
    Inflation reached a 10 month low of 3.69% in August, down from 4.17% in July. This despite Rupee falling to an all-time low of Rs 72.92 per USD during the last week. August was the first time in the past 10 months in which retail inflation was below RBI’s medium-term target of 4%.
    In a note published this week we ask what is the missing data in Mutual Fund Star ratings? There is no evidence that a 5 Star Rated Mutual Fund will outperform a 4 Star Rated Mutual fund in the future. Not that the rating agencies themselves imply that star rating is predictive of future out performance. As Morningstar says, “We have always been very clear that it’s (Mutual Fund Star Rating) not intended to predict future performance."
    What worked best:
    BSE Sensex and NIFTY were down by -0.78% and -0.64% respectively. Small Cap Index was down by -1.34% whereas Mid Cap Index corrected by -0.94% for the week.
    IndexWeekly openWeekly closeChange
    BSE Sensex38,389.8238,090.64-0.78%
    Nifty11,589.1011,515.20-0.64%
    S&P BSE SmallCap16,896.9516,670.93-1.34%
    S&P BSE MidCap16,504.8616,349.97-0.94%
    Source- BSE/NSE
    Top 5 best performing funds:
    NameWeek3YCategory
    CANARA ROBECO GOLD2.6%4.8%Fund of Funds
    DSP WORLD AGRICULTURE2.0%7.4%Fund of Funds
    IDBI GOLD1.6%3.3%Fund of Funds
    ICICI PRU US BLUECHIP1.5%17.1%Sectoral
    EDELWEISS US VALUE1.3%13.0%Fund of Funds
    Source – Kuvera.in
    What investors bought:
    We saw the most inflows last week in these 5 schemes –
    Name1Y3YCategory
    HDFC SMALL CAP19.2%23.3%Small Cap
    MIRAE ASSET EMERGING BLUECHIP4.7%20.6%Large & Mid
    L&T EMERGING BUSINESSES5.0%23.9%Small Cap
    MIRAE ASSET INDIA EQUITY8.7%17.3%Multi Cap
    HDFC MID CAP OPPORTUNITIES5.0%16.7%Mid Cap
    Source – Kuvera.in
    What investors sold:
    We saw the most outflows last week in these 5 schemes (excluding liquid and short-term schemes) –
    Name1Y3YCategory
    ICICI PRU EQUITY ARBITRAGE6.5%6.7%Arbitrage
    HDFC EQUITY FUND8.5%14.8%Multi Cap
    SBI MAGNUM MULTICAP5.2%16.1%Multi-Cap
    ABSL FOCUSED EQUITY4.0%13.7%Focused
    ICICI PRU LARGE & MID CAP5.8%15.6%Large & Mid
    Source – Kuvera.in
    Movers and shakers at fund house:
    1/ Exit load structure of Franklin India Equity Hybrid Fund has been revised by the AMC. Up to 10% of units allotted in past 1 year can now be redeemed/switched out without exit load.
    2/Mahindra Mutual Fund announced the appointment of Srinivasan Ramamurthy as fund manager of Mahindra Badhat Yojana - Multicap Fund
    3/ Tata Mutual Fund announced the appointment of Rupesh Patel as fund manager of Tata Ethical Fund and Tata Offshore India Shariah Scheme.
    4/ Reliance Mutual Fund announced Anand Gupta's appointment as fund manager of Reliance Arbitrage Fund.
    Quote of the week:
    More money has been lost trying to anticipate and protect from corrections than actually in them. - Peter Lynch
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
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