Monish Vora is a keen student of the markets and shares his observations through his clear and concise commentary.
Equity mutual funds witnessed an outflow of Rs 45.3 billion in February 2021.
This was the eighth consecutive monthly withdrawal.
The outflows were primarily seen due to a massive pullout from the newly created flexi-fund category and profit-booking by investors as the benchmark indices scaled record-high levels.
Let us take a look at the stocks traded the most by mutual funds during this period.
Indian mutual funds cut their holdings in key Nifty stocks in February.
Retail investors continued to withdraw money from equity schemes with the Indian stock market setting new record highs.
Among largecaps, mutual funds trimmed their positions in Punjab National Bank Ltd, IDBI Bank Ltd, Adani Enterprises Ltd, Hindustan Zinc Ltd, and Bandhan Bank Ltd in February.
In the midcap space, Zee Entertainment Enterprises Ltd, New India Assurance Ltd, Sun TV Network Ltd, and Nippon Life India Asset Management Ltd witnessed maximum selling.
Among smallcaps, the highest selling by equity mutual funds was seen in Allcargo Logistics Ltd, Engineers India Ltd, Igarashi Motors India Ltd, and KRBL Ltd.
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On the other hand, the top bought large cap stocks in February included IndusInd Bank Ltd, Tata Motors Ltd, DLF Ltd, United Spirits Ltd, and Godrej Consumer Products Ltd.
In the midcap space, the highest buying by equity mutual funds was seen in L&T Finance Holdings Ltd, Steel Authority of India Ltd, Shriram Transport Finance Company Ltd, Indian Railway Catering & Tourism Corporation Ltd, and GMR Infrastructure Ltd.
Among smallcaps, mutual funds made the highest purchases in Poly Medicure Ltd, Esab India Ltd, Mayur Uniquoters Ltd, and Indiabulls Housing Finance Ltd in February.
Below is the list of top 10 mutual fund houses as per their equity asset under management (AUM) as of February 2021.
| Top Fund Houses | Equity AUM (Rs bn) |
|---|---|
| SBI Mutual Fund | 2,608.0 |
| HDFC Mutual Fund | 1,567.4 |
| ICICI Prudential Mutual Fund | 1,562.2 |
| Nippon India Mutual Fund | 1,135.7 |
| UTI Mutual Fund | 1,026.8 |
| Axis Mutual Fund | 977.7 |
| Aditya Birla SL Mutual Fund | 898.9 |
| Kotak Mutual Fund | 884.0 |
| Mirae Asset Mutual Fund | 609.8 |
| DSP Mutual Fund | 497.9 |
Here's what the top three asset managers bought and sold in the month February 2021.
Learn: How to Potentially Accumulate Rs 7 Crore in Wealth Over the Long-term
How the mutual fund buying and selling trend pans out in the month of March remains to be seen.
We will keep you updated on all the developments from this space.
Stay tuned!
Happy investing.
PS: The above piece relies on data from PersonalFN. PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.
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