Mutual funds garner Rs 5,900 cr in November through SIP
Retail investors are preferring systematic investment plan (SIP) option for investing in mutual funds, with the industry garnering around Rs 5,900 crore through the route in November , an increase of 52 per cent from the year-ago period. With this, the total money garnered by fund houses through SIPs has touched Rs 40,780 crore in the first eight months of the current fiscal, according to the Association of Mutual Funds in India (Amfi) data. In comparison, Rs 27,468 crore was collected through the investment plan in April-November 2016-17.
The total folio count at the end November was 6.49 crore
The total folio count at the end November was 6.49 crore, 2.7 per cent higher compared with October , according to data from the Sebi. The mutual fund industry added close to 17.56 lakh new folios in the month out of which 12.24 lakh were in the equity category (including ELSS). Other ETFs as a category also witnessed phenomenal growth in folio count mainly due to the NFO of a particular ETF that received very good response from investors. However , folio count in Income, Gilt, Gold ETFs and Fund of Funds investing overseas witnessed de-growth from October-end levels. The fall in folio count in debt categories could be because investors are preferring equity over debt as there are concerns relating to fiscal deficit and rising inflation, the report said.
ICICI Pru Balanced Advantage Fund cuts equity pie to 3-year low
The largest product among mutual funds' dynamic asset allocation schemes, which invest in a mix of shares and bonds, has cut the equity exposure in its portfolio to the lowest in almost three years amid concerns over elevated stock valuations. Stock holdings of ICICI Prudential Balanced Advantage Fund fell to 35.41% of the Rs22,845 crore it managed in November 2017 from a high of 76% in Feb 2016. The equity exposure in the scheme now is the lowest since January 2015, when the fund house had reduced it to 34.3%. Dynamic asset allocation funds change the debt and equity proportion in the portfolio based on market valuations. When stock valuations are high, these funds reduce exposure to this asset class. The total money this category manages now is about Rs 30,000 crore. ICICI Prudential Balanced Advantage Fund uses price-to-book value (P/B) ratio of stocks to decide its equity allocation. Currently , the P/B ratio of Nifty is 3.6 times as against 2.81 in February 2016, when the fund's exposure to stocks was 76%. Within its equity investments, the fund has largely stuck to large caps because of rich valuations in mid- and small-cap stocks.
Rollover of ICICI Prudential Value Fund Series 5
ICICI Prudential Mutual Fund A has extended the maturity of A ICICI Prudential V alue Fund Series 5 A by 400 days. Subsequent to the rollover the scheme shall mature on February 12, 2019. The existing maturity date of the scheme is January 08, 2018.
Launch of ICICI Prudential Value Fund Series 19
ICICI Prudential Mutual Fund has launched ICICI Prudential V alue Fund Series 19. The New Fund Offer will open for subscription on December 21, 2017 and closes on January 04, 2018.