Indian investors made inflows of over Rs 34,000 crore to active equity mutual funds during September, pushing the size of assets held under such schemes to a new record high of Rs 31 lakh crore.
As investment in equity-oriented schemes continues to grab a major chunk of inflows, the share of assets under such schemes as a percentage of the total asset base of the mutual fund industry has also grown to its highest ever at 46.3% during the month.
With Indian equities continuing their uptrend, here’s how mutual funds re-allocated holdings in September.
HDFC Bank Ltd. took the spot as mutual funds’ biggest ‘buy’ during the month, with its value going up by Rs 15,800 crore, up 6.3% month-on-month.
Bharti Airtel Ltd. followed second, with its holding value increasing by Rs 7,465 crore.