Banking and financial services funds lead the pack this week, with 4 out of 5 top performing funds belonging to this sector. In an otherwise positive week, SmallCap Index was down by -1.27%. With the Rupee strengthening against the dollar, international fund of funds gave back some of their out performance from last month. All 5 worst performing funds were from the international fund of funds category.
In further good news for the consumer and the markets, inflation, as measured by the Consumer Price Index, stood at 3.31% in October compared to 3.70% in September.
Tension between Central Government and Reserve Bank of India (RBI) seem to be rising as Government has proposed setting up of panels for closer supervision on functioning of RBI. Issues including transfer of surplus funds, easing of bad loan norms, and ensuring liquidity to the shadow-banking sector are likely to be discussed in a meeting on Monday.
Index Returns:
| Index | Weekly open | Weekly close | Change |
| BSE Sensex | 35,158.55 | 35,457.16 | 0.85% |
| Nifty | 10,585.20 | 10,682.20 | 0.92% |
| S&P BSE SmallCap | 14,671.85 | 14,485.88 | -1.27% |
| S&P BSE MidCap | 14,944.20 | 14,997.81 | 0.36% |
Source- BSE/NSE
Top 5 best performing funds:
| Name | Week | 3Y | Category |
| SBI BANKING & FIN SERVICES | 2.5% | 21.3% | Sectoral |
| CANARA ROBECO CONSUMER TRENDS | 2.4% | 15.0% | Sectoral |
| SUNDARAM FINANCIAL SERVICES OPP | 2.2% | 12.3% | Sectoral |
| BARODA PIONEER BANKING & FIN | 1.8% | 10.0% | Sectoral |
| INVESCO INDIA FIN SERVICES | 1.8% | 18.3% | Sectoral |
Source – Kuvera.in
5 Worst performing funds:
| Name | Week | 3Y | Category |
| HSBC BRAZIL | -7.4% | 20.6% | Fund of Funds |
| ABSL GLOBAL COMMODITIES | -5.5% | 6.9% | Fund of Funds |
| PRINCIPAL GLOBAL OPPORTUNITIES | -5.1% | 10.9% | Fund of Funds |
| DSP WORLD MINING | -5.0% | 19.0% | Fund of Funds |
| FRANKLIN FEEDER EUROPE | -5.0% | 5.3% | Fund of Funds |
Source – Kuvera.in
What investors bought:
We saw the most inflows in these 5 schemes –
| Name | 1Y | 3Y | Category |
| MIRAE ASSET EMERGING BLUECHIP | 0.1% | 18.2% | Large & Mid Cap |
| L&T EMERGING BUSINESSES | -7.4% | 19.2% | Small Cap |
| ICICI PRUDENTIAL BLUECHIP | 3.2% | 13.4% | Large Cap |
| PARAG PARIKH LONG TERM EQUITY | 1.9% | 11.3% | Multi Cap |
| L&T MIDCAP FUND | -6.7% | 15.9% | Mid Cap |
Source – Kuvera.in
What investors sold:
We saw the most outflows in these 5 schemes (excluding liquid and short-term schemes) –
| Name | 1Y | 3Y | Category |
| ICICI PRUDENTIAL BANKING AND FIN | -1.8% | 19.9% | Sectoral |
| SBI BLUE CHIP | -0.4% | 10.9% | Large Cap |
| ABSL FRONTLINE EQUITY | 0.4% | 11.8% | Large Cap |
| SBI MAGNUM MIDCAP | -10.6% | 7.2% | Mid Cap |
| HDFC TOP 100 FUND | 2.7% | 13.2% | Large Cap |
Source – Kuvera.in
Movers and shakers at fund house:
1/ Tata Mutual Fund has appointed Sailesh Jain as the fund manager for 4 schemes - Tata Digital India Fund, Tata Equity Savings Fund, Tata India Pharma and Healthcare Fund and Tata Resources and Energy Fund, with immediate effect.
2/ DSP Mutual Fund has launched the DSP Healthcare Fund NFO on 12/Nov. This open ended scheme will primarily invest in equity and equity related securities of companies in the healthcare and pharma sectors.
3/ Union Mutual Fund has launched the Union Value Discovery Fund NFO on 16/Nov. This open ended equity scheme will follow value investing strategy.
Quote of the week:
Investors should be skeptical of history-based models. Constructed by a nerdy-sounding priesthood using esoteric terms such as beta, gamma, sigma and the like, these models tend to look impressive. Too often, though, investors forget to examine the assumptions behind the models. Beware of geeks bearing formulas.
Warren Buffet
Manvendra Singh Rathore is an Analyst at Kuvera.in: India’s first completely free Direct Mutual Fund investing platform.
First Published: Nov 17, 2018 1:36 PM IST
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