The assets under management (AUM) of the mutual fund industry increased to Rs 26.33 lakh crore in October, a 7.4 percent rise from the preceding month. Mutual funds saw net inflows of Rs 1.33 lakh crore in October, compared to net outflows of Rs 1.52 lakh crore in September. SIP inflows remained steady at Rs 8,245 crore during the month, a dip of Rs 18 crore from Rs 8,263 crore in September. This is the 11th straight month of Rs 8,000 crores or more of SIP inflows.
The credit rating agency Moody's lowered Indiaâs outlook from "stable" to "negative" while retaining the issuer rating at Baa2. The rating agency cited a growing debt burden and the government's struggle to narrow the budget deficit for the revision. On a similar vein, Fitch Solutions has raised India's fiscal deficit forecast to 3.6 percent of the GDP for the fiscal year 2019-20, from the previous 3.4 percent, due to weak revenue collections resulting from sluggish economic growth and government's sweeping corporate tax rate cut.
The government has announced a Rs 25,000 crore stimulus package for the real estate sector. Finance minister Nirmala Sitharaman announced that the Centre will infuse Rs 10,000 crores into the real estate market to revive over 1600 stalled housing projects covering 4.58 lakh units. Another Rs 15,000 crores will be contributed by LIC and SBI.
Top 5 best performing funds
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What investors bought
We saw the most inflows in these 5 Funds:
What investors sold
We saw most outflows in these five funds:
Movers & Shakers has announced that the R&TA is being changed from Sundaram BNP Paribas Fund Services Limited to Karvy Fintech Private Limited for the schemes of Sundaram Mutual Fund with effect from 11 November 2019. Sundaram Mutual Fund has announced that Samuel Joseph Jebaraj has been appointed as a Director on the Board of IDBI MF Trustee Company Limited. IDBI Mutual Fund has announced that Piyush Khandelwal has been appointed as Dealer and designated as a Key Personnel of the AMC. BOI AXA Mutual Fund Quote of the week: Three Rules of Work: Out of clutter find simplicity. From discord find harmony. In the middle of difficulty lies opportunity. : Albert Einstein
Gaurav Rastogi is the CEO ofÂ
Kuvera.in: Indiaâs first completely free direct mutual fund investing platform.