Mutual Funds Increase Focus on IT and Healthcare Sectors in August 2024
Sunday, 15 September 2024, 19:48
Mutual Funds Pull Towards IT and Healthcare Sectors
The Indian mutual fund industry recognized a robust focus on active equity mutual funds in August 2024. With the domestic market at high valuations, fund managers adjusted their sector-wise allocation, channeling investments into the information technology and healthcare sectors. Notably, cash equivalents surged, increasing by 0.46% to form 4.94% of overall assets.
Equity Inflows and Sector Adjustments
- Net inflows dropped over 40% in August; equity schemes showed a slight rise.
- Allocations for IT stocks grew by 0.37%, while healthcare gained 0.28%.
- Banks witnessed the largest allocation downgrade, decreasing by 0.45%, yet retained the highest allocation at 14.27%.
- Other sectors like automobiles and capital goods also saw reductions.
Insights on Mutual Fund Leaders
From Trent to Tata Motors, the category leaders illustrate the shifting landscape of mutual fund investments.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.