India's mutual fund industry is witnessing a
rising number of equity schemes with asset worth Rs 10,000 crore.
In 2015, such schemes doubled in number from 3 to
6 while one is barely Rs 100 crore away from getting into this elite group.
Interestingly, this happened in a year when key
benchmark indices lost around 8% while they are down 14% from their all time
highs.
Thanks to the incessant robust inflows from
India's retail investors that mutual fund sector could see its schemes
surpassing the Rs. 10,000 crore mark.
6. Birla Sun Life Frontline Equity Fund.
These schemes include,
1. HDFC Equity Fund
2. HDFC Top 200
3. Reliance Equity Opportunities Fund
4. ICICI
Prudential Value Discovery Fund
5. HDFC
Mid Cap Opportunities and
6. Birla Sun Life Frontline Equity Fund.
Put together, they manage assets worth a whopping
Rs, 74,000 crore or about 20% of overall equity assets.
Mr. Kaustubh Belapurkar, Director, Manager
Research, Morningstar India, says, "It was certainly the strong domestic
inflows on the back of retail investors' participation which helped these funds
gain in size in a year when markets gave negative returns. Popular funds,
generally, turn out to be beneficiary in an environment where inflows are
robust."
Majority of these schemes have given negative
return from a year perspective. Experts suggest that if inflows remain robust
and market perform, it would not be surprise to see more number of schemes
joining the Rs. 10, 000 crore club.
Mr. Kaustubh Belapurkar, "I believe
number of such schemes will only rise if market performs and inflows remain
intact as there are several schemes with assets between Rs. 5,000 crore and Rs.
7,000 crore. They may soon join the club if market does well."
It appears quite possible. There are at least
seven more schemes.
1. ICICI Prudential Focused Bluechip - Rs. 9,896 crore.
2. Franklin India Bluechip - Rs. 6,694 crore
3. Axis Long Term Equity Rs. 6,497 crore
4.
Franklin India Prima Plus (Rs. 6,145 crore) are well established funds
and among the most popular with investors.
Amid this, what's good for the industry as well
as the investors is the fact that concentration of equity assets among top
twenty schemes has started to reduce.
A year back, 42% of equity assets were managed by
the top 20 largest schemes; this
has declined to 37% in 2015.
Currently, mutual fund industry offers nearly 460
equity oriented mutual fund schemes
managing assets worth Rs. 4 lac crore.
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