Inline with the global markets, Indian markets took a breather with most funds down for the week. The silver lining was technology and pharma sector funds. All 5 top performing funds this week are from these two sectors and were up on average 2.7 percent for the week. Investor enthusiasm remains strong, with all 5 top inflow funds on our platform being in the equity category of which two are small cap funds.

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Assets under management of the Mutual Fund Industry saw a 9 percent month-on-month jump in August 2018 and increased to a record high of Rs 25.20 lakh crore, as per AMFI data. Equity assets increased by 4.2 percent and reached Rs 8.04 lakh crore.

The rupee touched a new low of 72.10 per dollar as currencies across emerging markets weakened against the USD.

What worked best:

The six week bull run going on in Indian Equity Markets saw a pause as BSE Sensex and NIFTY fell by -0.66 percent and -0.78 percent respectively over the week. Small Cap Index was down -1.72 percent whereas Mid Cap Index witnessed a fall of -2.23 percent for the week.

Movers and shakers at fund house:

Motilal Oswal AMC lowered the minimum amount for lumpsum and SIP investments in its schemes to Rs 500.

SBI Mutual Fund announced the appointment of Ashwani Bhatia as MD and CEO. He will be taking over from Anuradha Rao.

Canara Robeco Mutual Fund appointed Krishna Sanghvi as equity head. He will step in place of Ravi Gopalakrishnan.

Tata Mutual Fund appointed Chandraprakash Padiyar as senior fund manager for Tata Hybrid Equity Fund and Tata Large & Mid cap Fund.

Quote of the week:

India is an economy with a tremendous growth potential and although it is seen as an emerging economy, it doesn’t suffer from big imbalances that we see in some of the countries where the current focus is most intense. You have some exciting growth companies which are attracting domestic and international investors who are looking for genuine growth opportunities in large markets which are expanding.

Peter Oppenheimer, Chief Global Equity Strategist, Goldman SachsManvendra Singh Rathore is an Analyst at Kuvera.in: India’s first completely free Direct Mutual Fund investing platform.

First Published:Sept 8, 2018 8:09 AM IST