Here are top 20 companies that entered mutual fund portfolios in February
The total assets under management (AUM) of the mutual fund industry grew by 41.7% (Rs 5.26 lakh crore) in February 2017 as compared to same month last year.
However, on month-on-month basis, the AUMs decreased by 3% or Rs 51,960 crore to Rs 17.89 lakh crore last month.
According to an IDBI Capital report, all the categories witnessed net inflow except GILT, Gold ETF & FOF categories which witnessed net outflow. Net inflow in the industry stood at Rs 30,273 crore in February, 2017. The Equity Fund saw highest inflows in February 2017 while Other ETFs fund registered highest outflows.
In February 2017, the domestic mutual funds turned out to be net buyers in equities worth Rs 1,855 crore, as against net buying of Rs 5,215 crore in January 2017.
"In February mutual funds were net buyers in equity in 12 trading sessions and net sellers in 7 sessions. Net buying in equity was recorded highest at Rs 1,209.4 crore on 21 February 2017 while net selling recorded at Rs 5,266.4 crore on 17 February 2017," the report said.
Moreover, mutual funds added 20 new stocks in their portfolio based on the market value.
Rising on the back of recently launched Jio's feedback, Reliance Industries' market value was at top among the 20 new entrants with Rs 11,133 crore market value with total nine crore shares.
Second in the list was IT-major Infosys with 18.2 crore shares and market value of about Rs 18,468 crore. Third was FMCG company ITC with 43.1 crore shares and market value of about Rs 11,290 crore. Fourth was ICICI Bank with 77.9 crore shares and market value of Rs 21,528 crore. Fifth was Tata Steel with 12.1 crore shares with Rs 5,833 crore.
With the blue-chips entering the mutual funds industry the outlook for the coming months looks positive.