By Ameya Karve
Inflows into Indian equity funds rebounded after three months of decline in December as the nation’s benchmark stock index hit a series of record highs.
Stock plans took in Rs 4,500 crore ($626 million) last month, according to the Association of Mutual Funds in India. That compares with Rs 1,310 crore received in November, which was the smallest inflow in more than three years.
Here’s what the top three asset managers bought and sold:
HDFC Mutual Fund
India’s largest money manager held $22 billion in equities, with financials accounting for 33% of stock assets followed by industrial companies at 13%.
ICICI Prudential Mutual Fund
The money manager held equity assets of $21 billion, with financials making up 28% of assets followed by materials at about 10%.
SBI Funds Management
The fund house held about $27 billion in over 300 stocks. Financials made up about 41% of assets, followed by technology at 9%.
--With assistance from Nupur Acharya and Nikita Batra.
