Inflows into equity mutual funds hit an eight-month high in October even as the benchmark Nifty 50 Index fell for the first time in six years in what has been a historically strong month. It was also the most volatile month for the market this year.
Total equity inflow rose 13 percent over the previous month to Rs 12,622 crore in October, according to data released by the Association of Mutual Funds in India. That comes on the back of new fund offers and popularity of systematic investment plans. The mutual fund industry witnessed a total inflow of Rs 35,529 crore compared with an outflow of Rs 2.3 lakh crore in September.
Here's what the top three asset managers bought and sold in October:
ICICI Prudential Mutual Fund
India's largest asset manager has equity assets worth more than Rs 1.2 lakh crore invested in 620 stocks. It allocated 25.6 percent of the portfolio to financials and 10.5 percent to materials.
The fund house neither made any new purchases nor exited any company last month.
HDFC Mutual Fund
The fund house manages assets over Rs 1.3 lakh crore across 394 securities. By industry, it has the highest exposure towards financials at 30.8 percent, followed by industrials at 13.9 percent.
Aditya Birla Sun Life Mutual Fund
The fund house has equity assets worth more than Rs 78,791 crore invested in 510 securities. Its highest exposure is towards financials at 30.2 percent, followed by materials at 13.8 percent.
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