BANKING SECTOR MUTUAL FUNDS NEWS
HDFC Bank, RIL among top 5 largecap additions by mutual funds in June
SBI MF, Kotak MF, Axis MF, Quant MF and Aditya Birla Sun Life MF were among the fund houses which shopped for HDFC Bank shares worth Rs 6,800 crore. At the end of June, the total number of shares held by all mutual funds in HDFC Bank stood at 154.26 crore versus 150.20 crore crore shares at the end of May.
Large, mid and smallcap stocks that mutual funds bought and sold in June
In June, mutual funds invested Rs 282 billion in Indian markets, buying largecaps like Reliance Industries and HDFC Bank. Midcaps included Mphasis, Indus Tower, ZF Commercial Vehicles; smallcaps included Aster DM Health, Sharda Motors. Crompton Greaves saw selling; Persistent System reduced. Three months' buys: Reliance, Hindustan Unilever, Lloyds Metals. New entries involved Stanley Lifestyle.
Banks, financial companies among MFs’ top picks, some exit PSUs
In June, mutual fund managers invested in BFSI, auto, and IT sectors, including companies like HDFC Bank, Shriram Finance, and Maruti Suzuki. They also selected consumer discretionary stocks such as Asian Paints and Havells India. There were notable exits from top-performing public sector companies' shares. This information is reported by Rajesh Naidu & Prashant Mahesh.
HDFC Bank, RIL among 6 stocks owned by more than 500 mutual fund schemes
Favorite stocks are stocks based on the maximum holding count by mutual fund schemes for each stock. Here are the top 6 stocks owned by more than 500 mutual fund schemes, according to data by ACE MF.
Aatmanirbhar Bharat helps mutual fund investors make 69% return in 1 year. All eyes now on Budget
Manufacturing-based mutual funds have shown impressive returns up to 69% in the last year. Expert suggestions include considering risk profile and time horizon before investing. Government initiatives like Make in India boosting sector growth.
Canara Robeco Mutual Fund launches Balanced Advantage Fund
Canara Robeco Mutual Fund has launched Canara Robeco Balanced Advantage Fund, an open-ended dynamic asset allocation fund aiming to generate alpha when markets are doing well and reduce downside risk in times of bad market periods.
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HDFC Defence Fund gave 145% return before restriction on fresh investment kicks in
The scheme is benchmarked against Nifty India Defence Index TRI. The fund aims to capitalise on the opportunities in the space and has seen good interest from investors. The government's focus on modernising its defence forces and push toward self-reliance should drive the long-term growth of the sector. As global geopolitical tensions rise, many nations are spending on enhancing defence capabilities.
9 equity mutual fund categories received inflows in June
In June, inflows into equity mutual funds rose 17% to Rs 40,608 crore, up from Rs 34,697 crore in May, according to the monthly data released by AMFI.
17 mutual fund NFOs collected Rs 15,227 crore in June; sectoral and thematic funds led pack
Around 17 new open-ended mutual funds were launched in the market in June, which together mobilised Rs 15,227 crore, according to the monthly data released by AMFI.
Half of Rs 40,000 crore inflows into equity MFs came in sectoral and thematic mutual funds in June
Sectoral and thematic mutual fund categories contributed more than 50% to the total inflows in equity oriented schemes. Out of total inflows of Rs 40,608 crore in the equity mutual funds, around Rs 22,351 crore were from sectoral and thematic mutual funds in June.
Best tax saving mutual funds or ELSS to invest in July 2024
Tax -saving mutual funds or Equity Linked Savings Schemes (ELSSs) helps you to save income tax under Section 80C of the IT Act. You can invest a maximum of Rs 1.5 lakh in ELSSs and claim tax deductions on your investments every financial year. Are you interested?
HDFC Mutual Fund to discontinue lumpsum subscription and restrict systematic transactions in defence fund
HDFC Mutual Fund will restrict SIPs and discontinue lumpsum investments in the HDFC Defence Fund from July 22. The fund raised Rs 1,000 crores in a defence-focused NFO, targeting defence companies. Managed by Abhishek Poddar, it is benchmarked against Nifty India Defence Index TRI. Minimum investment is Rs 100 with a 1% exit load if redeemed within a year.
7 equity mutual funds offer over 20% return in 5 years
Seven equity mutual funds yielded over 20% returns in five years based on daily rolling analysis. Of 187 funds with five-year track records, top performers were small-cap-focused. Bank of India Small Cap Fund led with a 31.22% return, followed by Edelweiss Small Cap Fund at 28.69%.
SBI wants tax parity on bank FDs with mutual funds & equity markets in Budget
SBI has urged for income tax parity on bank FDs in Budget 2024, highlighting that bank credit growth outpaced deposit increases by Rs 2 lakh crore in FY24. Currently, equity and MF short-term capital gains are taxed at a flat 15%, while long-term gains enjoy a moderate 10% rate with exemptions up to Rs 1 lakh. Loss carry-forward provisions add to the attractiveness of these investments.
Quant Small Cap Fund sells 8.3 lakh shares of LIC, exits Adani Green Energy
Quant Small Cap Fund adjusts its portfolio in June with notable changes in stakes for Adani Power, HDFC Bank, and other stocks. The fund also introduces new stocks like Sun TV Network and Pfizer while exiting holdings in various companies.
Quant Mutual Fund investors withdraw Rs 2,800 crore amid Sebi probe: Report
Quant Mutual Fund faced its first weekly net outflows of 2024 in June's final week, with Rs 2,800 crore exiting the fund. Allegations of front-running impacted the top five funds, leading to significant outflows and increased stakes in HDFC Bank and Reliance Industries.
Sectoral and thematic mutual funds lead return chart last week
The equity mutual funds have offered up to 5% return in the last week (July 1 to July 5) and sectoral/ thematic funds have topped the return chart. There were around 644 equity mutual funds in the said period. Here are the top seven funds, according to the ACE MF.
These 10 passive mutual funds offered highest returns in first half of 2024
There were around 237 passive funds active in the market in the first half of 2024. Of 237 passive funds, 195 funds offered double-digit returns and 42 funds gave single-digit returns. Here are the top 10 performers, according to the data by ACE MF.
Two sectoral, thematic mutual funds offer over 35% return so far in 2024
Two sectoral/thematic mutual fund categories delivered more than 35% return in 2024 so far, an analysis by ETMutualFunds showed.
SBI Contra Fund turns Rs 10,000 monthly SIP to Rs 7 crore in 25 years
SBI Contra Fund marks 25 years with impressive returns, outperforming its benchmark consistently. Managed by Dinesh Balachandran and Pradeep Kesavan, the fund offers a diversified portfolio for long-term capital appreciation. With assets of Rs 34,366 crore, it caters to investors seeking a contrarian investment strategy.
Quant Mutual Fund raises bet on HDFC Bank shares, top holding in most schemes
Geojit Financial Services' Dr. V K Vijayakumar anticipates HDFC Bank's augmented Nifty weight to fuel additional delivery based buying, boosting the stock under active funds' support.
9 sectoral/thematic mutual funds deliver over 35% return in first half of 2024
Around nine sectoral/thematic mutual funds have delivered more than 35% return in the first six months of 2024.
Infra and defence mutual funds dominate returns chart in first half of 2024
The first half of 2024 showcased the dominance of infrastructure and defense-based mutual funds in the market. While some international funds faced challenges, strategic investment decisions were crucial. Diverse performances emphasized the need for a well-rounded portfolio strategy to navigate the market effectively.
Best banking & PSU mutual funds to invest in June 2024
Mutual fund advisors say banking & PSU debt schemes are ‘relatively’ safe because these schemes invest only in bonds and papers of banks and public sector companies. Since most of these entities are government-backed, they don’t have the credit risk.
Why Rajat Sharma prefers these 3 sectors to banks now
Keep an eye on fertilisers, gaming, and NBFC stocks more than banking, says Rajat Sharma of Sana Securities because in the GST meeting, the talk has been to do away with the middle GST slab and either have a 5% or an 18% slab or at least reduce some taxation.
Sectors that gained mutual funds’ interest in May
In May, mutual funds showed an interest in auto, capital goods, telecom, metals, consumer durables, real estate, infrastructure leading to a month-on-month (MoM) rise in their weights, according to a report by Motilal Oswal Financial Services.
Baroda BNP Paribas Mutual Fund launches Baroda BNP Paribas Nifty Bank ETF
Baroda BNP Paribas Mutual Fund launches Baroda BNP Paribas Nifty Bank ETF, tracking the Nifty Bank Total Returns Index. With a minimum investment of Rs 5,000, it offers exposure to the Indian banking sector for long-term capital appreciation.
Infra mutual funds among top winners in last 5 years of Modi government
Infrastructure sector-based mutual funds, including Quant Infrastructure Fund, Invesco India PSU Equity Fund, and Nippon India Power & Infra Fund, have been top winners in the last five years of the Modi government, offering impressive absolute returns up to 380%.
Best banking & PSU mutual funds to invest in May 2024
Mutual fund advisors say banking & PSU debt schemes are ‘relatively’ safe because these schemes invest only in bonds and papers of banks and public sector companies. Since most of these entities are government-backed, they don’t have the credit risk.
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