EUR 120.00 For Business Accounts Only

MOSL: Morning India (15/May/20): 1. Fund Folio (Equity inflows at 4-month low); 2. Varun Beverages; 3. EcoScope; 4. Staffing; 5. Biocon; 6. Tata Consumer; 7. ABB; 8. Mphasis

MOrning India (15/May/20): 1. Fund Folio (Equity inflows at 4-month low); 2. Varun Beverages; 3. EcoScope; 4. Staffing; 5. Biocon; 6. Tata Consumer; 7. ABB; 8. Mphasis

 

Today’s top research theme

Fund Folio (May 2020): Equity inflows at 4-month low; Oil and Gas, Healthcare and Autos gain attention

• After plunging 23% in Mar'20, equity AUM of domestic MFs increased 14% MoM to INR7t in Apr'20 as markets rebounded after 3 months of negative returns. Redemptions declined 53.8% MoM to INR88b, but an equal fall in equity scheme sales (-52.3% MoM to INR155b - the lowest in 14 months) led to a decline in net inflows from INR136b in Mar'20 to INR67b in Apr'20 - the lowest in 4 months.
• MF industry AUM increased 7.5% MoM (INR1.6t) to INR23.9t in Apr'20, primarily led by equity funds (INR859b), liquid funds (INR698b) and other ETFs (INR176b).
• Contribution of systematic investment plans (SIPs) moderated to INR83.8b (down 3% MoM) after hitting a new high of INR86.4b in Mar'20.
• Oil and Gas' weight increased for the second consecutive month to climb a new high of 9.1% (+80bp MoM, +120bp YoY).
• Consumer's weight moderated after rising for 3 consecutive months to 8.8% (-100bp MoM). As a result, the sector slipped to the third position in the allocation of mutual funds, making way for the Oil and Gas sector at second position.