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All that you need to know about Mutual Funds last week

All that you need to know about Mutual Funds last week

All that you need to know about Mutual Funds last week
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By Manvendra Singh Rathore  Feb 4, 2019 6:18:33 AM IST (Updated)

The finance minister, Piyush Goyal, announced full tax rebate for income-tax payers earning up to Rs 5 lakh per annum.

On February 1 the centre presented a farm-friendly, consumption-oriented budget ahead of the general elections.

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An important announcement was the doubling of income tax rebate for individuals. The finance minister, Piyush Goyal, announced full tax rebate for income-tax payers earning up to Rs 5 lakh per annum. With this, individuals earning upto Rs 6.5 lakh would not need to pay any tax if they invest Rs 1.5 lakh under Section 80C of the Income Tax Act. The standard deduction available to salaried taxpayers was also increased from Rs 40,000 to Rs 50,000.

A leaked National Sample Survey Office (NSSO) report shows that the country's unemployment rate is at a 45-year high of 6.1 percent. The government was put in the spotlight for not releasing the report despite being vetted by the National Statistics Commission in December. The government, however, claimed that the report was being processed and would be released once done.
DHFL was another stock that fell sharply during this week. amidst rising uncertainties in the NBFC space that froze credit-lending operations of the company, the company has lost more than 73 percent of its share price in the past four months. However, several fund houses had exposure worth about Rs 8,650 crore to DHFL and its group entities, as on December 31, 2018.
The fund houses with most exposure to shares of DHFL Group companies include:
  • UTI Mutual Fund (Rs 2,144 crore)
  • Reliance AMC (1,488 crore)
  • Axis AMC (Rs 771 crore)
  • Franklin Templeton (Rs 571 crore)
  • Index Returns:
    IndexWeekly openWeekly closeChange
    BSE Sensex36,025.5436,469.431.23%
    Nifty10,780.5510,893.651.05%
    S&P BSE SmallCap14,000.2013,950.45-0.36%
    S&P BSE MidCap14,681.8214,641.38-0.28%
    Source- BSE/NSE
    Top 5 best performing funds:
    NameWeek3YCategory
    KOTAK WORLD GOLD10.3%10.5%Fund of Funds
    DSP WORLD GOLD8.4%12.0%Fund of Funds
    DSP WORLD MINING5.9%23.5%Fund of Funds
    EDELWEISS GREATER CHINA EQUITY4.0%14.2%Fund of Funds
    TATA DIGITAL INDIA3.7%13.4%Sectoral
    Source – Kuvera.in
    Top 5 worst performing funds:
    NameWeek3YCategory
    HSBC INFRASTRUCTURE EQUITY-2.0%0.6%Sectoral
    HDFC INFRASTRUCTURE-1.8%3.3%Sectoral
    IDFC INFRASTRUCTURE-1.7%10.5%Sectoral
    IDBI MIDCAP-1.4%3.3%Mid Cap
    RELIANCE POWER AND INFRA-1.4%9.3%Sectoral
    Source – Kuvera.in
    Top 5 best performing ELSS funds:
    Source – Kuvera.in
    Top 5 worst performing ELSS funds:
    NameWeek3YCategory
    MOSL LONG TERM EQUITY-0.2%16.4%ELSS
    HDFC TAX SAVER0.2%13.6%ELSS
    ICICI PRU LONG TERM EQUITY0.3%11.8%ELSS
    KOTAK TAX SAVER0.3%15.0%ELSS
    AXIS LONG TERM EQUITY0.4%12.4%ELSS
    Source – Kuvera.in
    What investors bought:
    We saw the most inflows in these 5 schemes –
    Name1Y3YCategory
    MIRAE ASSET INDIA EQUITY-2.5%17.1%Multi Cap
    HDFC SMALL CAP-7.8%19.7%Small Cap
    KOTAK STANDARD MULTICAP-2.6%16.3%Multi Cap
    ADITYA BIRLA SUN LIFE TAX RELIEF96-4.5%14.7%ELSS
    UTI NIFTY NEXT 50 INDEXNA-5.4%Index
    Source – Kuvera.in
    What investors sold:
    We saw the most outflows in these 5 schemes (excluding liquid and short-term schemes) –
    Name1Y3YCategory
    MIRAE ASSET EMER BLUECHIP-6.2%17.2%Large & Mid
    ICICI PRU BANKING AND FIN.-5.5%24.0%Sectoral
    HDFC TOP 100-2.5%16.8%Large Cap
    SBI MAGNUM MIDCAP-16.1%7.1%Mid Cap
    HDFC BALANCE ADVANTAGE-3.2%16.0%Hybrid
    Source – Kuvera.in
    Movers and shakers at fund house:
    1/ Kotak Mutual Fund has announced that Kotak Global Emerging Market Fund, Kotak India Growth Fund Series 4,5 and 7 will be managed by Mr. Deepak Gupta, Mr. Devender Singhal, Mr. Harish Krishnan and Mr. Devender Singhal, respectively.
    Quote of the week:
    Gratitude unlocks the fullness of life. It turns what we have into enough, and more. It turns denial into acceptance, chaos to order, confusion to clarity. It can turn a meal into a feast, a house into a home, a stranger into a friend.
    Melody Beattie
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