What India's Top Three Mutual Funds Bought And Sold In August

Here's what asset managers at SBI Mutual Fund, HDFC Mutual Fund and ICICI Prudential Mutual Fund bought and sold in August.

<div class="paragraphs"><p>Two people exchanging Indian two hundred rupee banknote. (Photo: BQ Prime)</p></div>
Two people exchanging Indian two hundred rupee banknote. (Photo: BQ Prime)

India's top three mutual funds added 14 new companies and exited 12 companies among them in August, even as inflows into equity-oriented mutual fund schemes fell to lowest in 10 months despite a rally in stock benchmarks.

Net investments into equity and equity-linked schemes declined 31% to Rs 6,119.58 crore in August, according to data released by the Association of Mutual Funds in India. That’s the third straight month of decline in inflows, but the 18th continuous month of investments into such stock plans.

Here's what India's top three asset managers bought and sold in August:

SBI Mutual Fund

SBI Funds Management Ltd. is India's top mutual fund with the largest holding. It has investments in 344 stocks across 12 sectors.

It holds total assets worth Rs 6.99 lakh crore under management, as of Aug. 31, 2022. Over the previous month, the fund added seven new companies and exited six.

ICICI Prudential

ICICI Prudential Asset Management Co. is India's second-largest mutual fund by assets under management.

The fund has total investments of Rs 5.03 lakh crore in 580 stocks across 12 sectors. Over the previous month, the fund added two new companies and exited three.

HDFC Asset Management

HDFC Mutual Fund, with assets worth Rs 4.39 lakh crore under its management, is India's third largest asset manager.

It has investments in 383 stocks across 12 sectors. In August, it entered positions in five new stocks and exited three.