MOSL: Morning India (14/February/20): 1. Fund Folio (AUM at new high, INR28t in sight!); 2. Ecoscope; 3. Mindtree (Upgrade to Buy); 4. Nestle India; 5. BPCL; 6. Page Industries; 7. PI Industries; 8. Future Ret
MOrning India (14/February/20): 1. Fund Folio (AUM at new high, INR28t in sight!); 2. Ecoscope; 3. Mindtree (Upgrade to Buy); 4. Nestle India; 5. BPCL; 6. Page Industries; 7. PI Industries; 8. Future Retail
Today’s top research theme
Fund Folio (February 2020): AUM at new high, INR28t in sight!
- Mutual funds held their ground despite volatile markets in Jan'20, with inflows picking up and the contribution of systematic investment plans (SIPs) scaling up to INR85.3b in the month.
- Domestic MFs industry created a new record in Jan'20 - total AUM inched up to INR27.9t (+5% MoM), primarily led by liquid funds, income funds and equity funds.
- Inflows in equity schemes (including ELSS and arbitrage) increased to INR94b in Jan'20 from INR52b in the previous month amidst rising gross sales (+7% MoM to INR284b) and declining redemptions (-11% MoM at INR190b).
- The month saw a notable change in sector and stock allocation of funds. On an MoM basis, the weight of Telecom, Cement, Chemicals, Capital Goods, Healthcare, Consumer, NBFC, Technology and Retail increased, while that of Oil & Gas, Banks (Private and PSU), Metals, Automobiles and Utilities moderated.
- Oil & Gas weight hit a seven-month low of 7.3% (-90bp MoM, -30bp YoY). As a result, the sector slipped to the fifth position in sector allocation of MFs (it ranked third in Dec'19).
Piping hot news
Banks, PEs and NBFCs line up for DHFL's retail book
Fourteen entities including foreign banks, private equity funds and other local non-bank lenders have begun talks with the administrator of bankrupt mortgage lender Dewan Housing Finance and its adviser EY to buy the company’s entire retail portfolio worth Rs 32,000 crore, multiple people involved in the process said.
Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.
Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.
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