Inflows into Indian equity mutual funds jumped the most in three months in June
India’s top money manager HDFC Mutual Fund held $22 billion in equities
Inflows into Indian equity mutual funds jumped the most in three months in June as hopes for greater political stability and the central bank’s continued easing bolstered risk appetite.
They took in ₹76.6 billion ($1.1 billion), according to the Association of Mutual Funds in India. That’s up from 54.1 billion rupees that the funds got in May, and the highest since March, data compiled by Bloomberg show.
Here’s what the top three asset managers bought and sold last month:
HDFC Mutual Fund
India’s top money manager held $22 billion in equities, with financials accounting for 35% of stock assets followed by industrial companies at 14%.
ICICI Prudential Mutual Fund
The money manager held equity assets of $19 billion, with financials making up 29% of assets followed by materials at 10%.
SBI Funds Management
The fund house held about $24 billion in more than 340 stocks. Financials made up about 39% of assets, followed by technology at 9.4%.