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The Sensex and the Nifty gained 1.97% and 1.67% respectively over last week. The momentum was not equally strong for SmallCap (+0.6%) and MidCap (-0.07%) indices.

The Top 5 Best Performing Funds Last Week:

What Investors Bought

The most inflows last week were seen in these five schemes, according to our analysis.

Movers and Shakers at Fund Houses:

Change in fund management responsibilities at IDBI Mutual Fund(MF)– IDBI’s Equity Advantage Fund and Hybrid Equity Fund (equity portion) are going to be managed by Uma Venkatraman, while IDBI focused 30 equity fund will now be managed by Ashish Mishra.

Tata Mutual Fund announced that top official D Ramanathan has resigned with effect from June 30.

Indiabulls MF has appointed Rekha Warriar as an independent director.

Reliance MF has appointed TS Vijayan as an independent director.

In other news:

Yes Bank received approval from the Securities & Exchange Board of India for starting its mutual funds business. Funds are expected to be launched in 6-12 months.

Manvendra Singh Rathore is an analyst at Kuvera.in, a free direct plan mutual fund investing platform.