Inflows into equity mutual funds continued, however, the pace slowed down a bit in June. According to data released by the Association of Mutual Funds in India (Amfi), the net inflow into open-ended equity schemes stood at Rs 5,988.17 crore, a drop of 41% compared to Rs 10,082.98 crore in May as investors booked profits at higher levels. However, the asset under management by the mutual fund industry increased 1.9% month-on-month (M-O-M) to Rs 33.66 lakh crore in June 2021, primarily led by an M-O-M increase in AUM of equity funds (Rs 41,300 crore), arbitrage funds (Rs 8,900 crore), and balanced funds (Rs 7,600 crore).
The contributions under the systematic investment plan (SIP) continued to break records for the second month in a row as it touched lifetime highs of Rs 9,155.84 crore in June 2021 versus Rs 8,818.90 crore witnessed in May 2021. Although the March 2021 SIP contribution stood at Rs 9,182 crore which consisted of Rs 495-500 crore of February which could not be chanelled due to the weekend.
With continuous inflows into the equity mutual fund category let’s have a look at what are their top 10 picks among large, mid & smallcap stocks
Among largecap stocks, mutual funds bought shares of Indus Towers, Havells India, SBI Cards, JSW Steel and Muthoot Finance.
On the other hand, they sold stakes in Hindustan Zinc, NMDC, Adani Enterprises, Dabur India and Titan.
Source: ACE MF, ICICI Direct Research. Note: Largecaps/Midcaps/Smallcaps as defined by AMFI. Socks above Rs 50 crore holding were considered.
In the midcap space, the highest buying was seen in Sona BLW Precision Forgings, Shriram Transport Finance, Indian Bank, TVS Motor Company and ZEE.
While companies like JSW Energy, Vodafone Idea, Sun TV Network, Petronet LNG, and Alkyl Amines were in which fund houses reduced their stake.
Source: ACE MF, ICICI Direct Research. Note: Largecaps/Midcaps/Smallcaps as defined by AMFI. Socks above Rs 50 crore holding were considered.
Mutual funds increased their stake in companies like Dodla Dairy, KIMS, Orchid Pharma, Shyam Metalics and Zensar Tech.
Whereas Easy Trip Planners, Rane Holdings, SpiceJet, Gujarat Narmada Valley Fertilisers and Happiest Minds Technologies were sold the most by mutual funds in June.
Source: ACE MF, ICICI Direct Research. Note: Largecaps/Midcaps/Smallcaps as defined by AMFI. Socks above Rs 50 crore holding were considered.
Download Money9 App for the latest updates on Personal Finance.
This is the real reason behind power crisis in India
Updated: May 20, 2022Gold jewellery hallmarking becomes mandatory from June 1
Updated: May 19, 2022FMCG companies are reducing weight of small size packs due to inflation
Updated: May 13, 2022Wheat floor price increase forcing FMCG companies to cut small pack biscuits’ weight
Updated: May 12, 2022Why FIIs are angry with Stock Markets?
Updated: May 11, 2022UPI has changed the world of payment completely. Is this the end of debit cards?
Updated: May 10, 2022Can rural India provide the required support to the economy?
Updated: May 9, 2022What is the story behind the great gold sales on Akshaya Tritiya?
Updated: May 9, 2022