(Bloomberg) -- Inflows into Indian equity mutual funds in January were the smallest in two years as heightened market volatility and political uncertainty cooled demand for riskier assets.
Stock funds took in a net 61.6 billion rupees ($866 million), the least since January 2017, and a seven percent decline over the previous month, data from the Association of Mutual Funds in India show.
Here's what the top three asset managers bought and sold last month:
HDFC Mutual Fund
India's largest money manager held 1.2 trillion rupees in equities, with financials accounting for about 32 percent of stock assets followed by industrial companies at 14 percent.
ICICI Prudential Mutual Fund
The money manager held equity assets of 1.2 trillion rupees, with financials making up 26 percent of assets followed by technology at 10 percent.
SBI Funds Management Pvt.
The fund house had about 1.3 trillion rupees invested in about 270 stocks. Financials made up about 35 percent of assets, followed by technology at 11 percent.
--With assistance from Anuvi Godha and Ankit Jain.
To contact the reporter on this story: Ameya Karve in Mumbai at akarve@bloomberg.net
To contact the editors responsible for this story: Divya Balji at dbalji1@bloomberg.net, Ravil Shirodkar
©2019 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
