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What India's Top Three Mutual Funds Bought and Sold in February

Bloomberg logoBloomberg 3/13/2019 Ameya Karve

(Bloomberg) -- Inflows into Indian equity mutual funds in February were the smallest in more than two years as savers held back investments amid market volatility and uncertainty ahead of the general election starting next month.

Stock funds took in a net 51.3 billion rupees ($736 million), a 17 percent drop over January, data from the Association of Mutual Funds in India show. That’s a fourth straight monthly decline and the lowest level since January 2017.

Here’s what the top three asset managers bought and sold last month:

HDFC Mutual Fund

India’s largest money manager held 1.3 trillion rupees in equities, with financials accounting for about 32 percent of stock assets followed by industrial companies at 14 percent.

a screenshot of a cell phone: New Buys/Exits© Bloomberg New Buys/Exits a screenshot of a cell phone: Added/Reduced Stakes© Bloomberg Added/Reduced Stakes

ICICI Prudential Mutual Fund

The money manager held equity assets of 1.1 trillion rupees, with financials making up 27 percent of assets followed by energy at 10 percent.

a screenshot of a cell phone: New Buys/Exits© Bloomberg New Buys/Exits a screenshot of a cell phone: Added/Reduced Stakes© Bloomberg Added/Reduced Stakes

SBI Funds Management Pvt.

The fund house had about 1.4 trillion rupees invested in more than 350 stocks. Financials made up about 35 percent of assets, followed by technology at 11 percent. The fund didn’t add a new position or completely exit a stock last month.

a screenshot of a cell phone: Added/Reduced Stakes© Bloomberg Added/Reduced Stakes

--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

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©2019 Bloomberg L.P.

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