INSUBCONTINENT EXCLUSIVE:
By Ameya KarveInflows 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 rupees ($1.1 billion), according to the Association
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 FundIndia’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 FundThe money manager held
equity assets of $19 billion, with financials making up 29% of assets followed by materials at 10%.
SBI Funds ManagementThe fund house held
about $24 billion in more than 340 stocks
Financials made up about 39% of assets, followed by technology at 9.4%.
