November 2017

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Nov
23

Dear Friends,

The month of October saw Foreign Institutional investors (FII’s) change sides after being net sellers in the Indian equity markets for two consecutive months. FII’s turned out to be net buyers in the Indian equity market to the tune of Rs. 3,055 crore. Domestic mutual funds continued their buying streak with net investments of around Rs. 10,698 crore during the month. Indian equity indices recorded gains with S&P BSE Sensex delivering 6.2% returns and Nifty 50 delivering 5.6% returns in the month of October 2017. Performance down the capitalization curve was better, the BSE Midcap and the BSE Small cap outperformed the large cap BSE Sensex by 1.3% and 3% respectively.

Markets gained momentum post the government announcement of the Rs. 2.11 lakh crore recapitalisation plan for public-sector banks and Rs. 6.92 lakh crores infrastructure spending to build roads under the BharatMala project. Recapitalization of PSU banks was a much-needed reform for enabling these banks to address the NPA issue and for the revival of the economy post the slowdown observed post-demonetization and implementation of GST. Spend on infrastructure will simultaneously boost the economy and create more job opportunities. Other positive factors such as release of encouraging industrial output and consumer price inflation numbers also kept the hopes for economic revival alive.

These positive sentiments aided the mutual fund industry growth with positive net inflows of Rs. 51,148 crores in the month of October 2017. We are also seeing a change in the investment trend wherein more and more investors are opting for equity mutual funds for long term wealth creation. The participation from B-15 cities continues to grow with investors opting for mutual funds as the preferred mode of investments. Increased participation through SIP’s is a positive trend for the industry as it will augur well for the sustainable growth in the mutual fund assets. As an industry, we need to ensure that to retain the interest of the investors over time, we should not only provide them solutions for their needs but also make their journey with us smooth and hassle-free.

As always, we value your investments and look forward to your continued patronage.

Warm Regards,

Anuradha Rao
Managing Director & CEO

 

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