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Synopsis
Fund managers are bullish on the large private sector banks, such as HDFC Bank, ICICI Bank, Axis and Kotak. They believe their strong management teams will be able to manage the second wave of Covid-19. Many BFSI funds have concentrated portfolios and these stocks account for nearly half of the scheme.
Agencies
Despite slow credit growth, the top private banks HDFC Bank, ICICI Bank and Axis Bank have reported credit growth of 2-3x of the industry during FY21 at NPA levels that continue to be similar to those of last year.
Mumbai: The data set is decidedly mixed, and the odds don’t appear too bright at least on paper. But analysts still believe BFSI must be in your portfolio and not simply because it makes up the biggest chunk of the broadest indices of India.
The fund house is already in the process of distributing cash worth Rs 9,122 crore in the week beginning Feb 15, as directed by the Supreme Court earlier.
Equity Mutual Funds See Outflows For Sixth Straight Month Even As Benchmarks Hit Records
Jan 08 2021, 6:18 PM
January 08 2021, 2:59 PM
January 08 2021, 6:18 PM
Equity mutual funds continued to witness outflows for the sixth straight month even as the benchmark indices scaled new peaks.Investors pulled out a net Rs 10,147.12 crore from equity and equity-linked mutual fund schemes in December compared with an outflow of Rs 12,917.36 crore in the preceding month, according to data released by the Association of Mutual Funds in India. The outflow in November was the highest since at least April.
Equity mutual funds continued to witness outflows for the sixth straight month even as the benchmark indices scaled new peaks.