Mutual Funds
Dynamic Equity Funds: More Complexity, Lower Returns
Dynamic schemes have failed to deliver despite a huge market rally. We are not surprised
 
Dynamic equity mutual fund (MF) schemes, as the name suggests, vary their equity allocation based on their fund manager’s view on where the market is headed. Dynamic plans free fund managers from the constraints of having to stay fully invested at all times. If they expect the market to trend...
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Best & Worst Mutual Fund Schemes

The best# three and the worst three schemes over the past three years ranked by their quarterly rolling returns. Premium members get access to a more refined list of top schemes by logging in to Moneylife Smart Savers

 

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Equity MFs report net inflows for the 10th consecutive month
Strong equity mutual fund sales of Rs12,300 crore lead to a net inflow of Rs5,840 crore in February 2015
 
Equity mutual funds reported a net inflow of Rs5,840 crore in February 2015. Sales for the month amounted to Rs12,300 crore and redemptions amounted to Rs6,470 crore for the month. For the past 10 months, from May 2014 to February 2015, equity mutual funds reported a net inflow in each month. Equity mutual funds brought in as much as Rs62,800 crore over this period. The last time equity funds had such a long run of net inflows was in the nine month period from November 2007 to July 2008. In this period, equity funds reported a total net inflow of Rs40,177 crore.
 
As many as eight new fund offers (NFOs) were launched in February, bringing in as much as Rs702 crore. As we have highlighted in the past, mutual funds rush in to launch NFOs when the market begins to rally. Tax-saving schemes garner a lot of interest in the last three months of the financial year. This year equity linked saving schemes (ELSSs) brought in Rs1,903 crore in first two months (January and February 2015). This was 166% than the Rs715 crores brought by such schemes over the same period last year. The enhanced Section 80C limit to Rs1.50 lakh could be a probable reason for a sharp rise in investments.
 
Along with the rise in investments, the number of equity fund folios too has risen. The total number of equity fund folios (including ELSSs) stands at 31.81 million as on 28 February 2015. This is up by 1.51 million folios or 5% compared to February last year.
 
Along with the direction of the market and the new inflows, the assets managed by equity mutual funds closed at a record high of Rs3.46 lakh crore, gaining 1.41% in February 2015. The CNX Nifty gained 1.06% over the same period.
 

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