Equity mutual funds inflow in July stood at Rs 10,585 crore according to data released by AMFI (Association of Mutual Funds in India). Total inflow in equity related schemes during this financial year (April-July) stands at Rs 43,300 crore. Pharma and healthcare was again the flavour of the week, with 4 of the top 5 best performing funds this week from this sector.

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Rupee made another all-time low against the US Dollar reaching 70.32/USD intraday on Thursday. "The rupee has been strengthening in real terms for some time now while inflation rate has been modest but above world inflation rates and as a result the rupee needs modest weakening over time. Hence, I am not too concerned about the rupee hitting an all-time low

,” explained Raghuram Rajan, former RBI governor.

India's industrial production growth was recorded at 7% in June (five months high), it recovered from a seven-month low of 3.9% in May. At the same time, the Consumer Price Index (CPI) was recorded at the nine-month low of 4.17%.

What worked best?

BSE Sensex and NIFTY rose by 0.21% and 0.36% respectively over the week. Small Cap Index went up by 0.49% whereas Mid Cap Index was up by 0.59%.

Movers and shakers at Fund House:

Ownership structure of Principal PNB AMC is slated to change. Post successful completion of the proposed transaction PFSI (Principal Financial Services Inc) will hold 100% of the paid-up equity share capital of PPAMC, through its wholly-owned subsidiaries.

The existing Unit-holders who do not wish to consent to the above change, are entitled to exit the investments held by them in the Scheme(s) of Principal Mutual Fund without any exit load by placing redemption orders before September 04, 2018 (3:00 p.m.)

The addendum from AMC can be found here

UTI Mutual Fund announced that Imtaiyazur Rahman has been appointed as acting CEO. This development has come amid Leo Puri resigning from posts of Managing Director and CEO of UTI Asset Management Company.

ABSL Mutual Fund has announced that Pranay Sinha will manage Aditya Birla Sun Life Active Debt Multi Manager FoF Scheme. The scheme was earlier managed by Kunal Sangoi.

Quote of the week:

Empowering the individual means empowering the nation. And empowerment is best served through rapid economic growth with rapid social change. - Atal Bihari Vajpayee

Manvendra Singh Rathore is an Analyst at Kuvera.in: India’s first completely free Direct Mutual Fund investing platform.