Only 2 of 23 mutual fund themes gained in August; IPO, defence stay green as auto, railways and tech slide : Report
Only two of 23 mutual fund themes, IPO and defence, gained in August as domestic equities faced broad-based pressure, according to Vallum Capital. Auto, railways and technology were among the biggest laggards, while equity fund inflows fell sharply. Commodities remained the strongest performer on a year-to-date basis despite a monthly decline.
In August, only two of the 23 mutual fund themes managed to gain, while the auto and railway sectors suffered the most, falling 6.5% and 6.4% respectively. The IPO and defence themes were the only ones to experience positive growth, rising by 2.2% and 1.4% respectively. The IPO theme received an inflow of Rs 37 crore, while the defence theme attracted Rs 235 crore.
Other themes such as technology and consumption declined by 6.1% and 4.5% respectively. The domestic equity market saw a broad-based downturn in August, with equity falling 2.1%. Money market assets were the only major asset class to deliver a positive return at 0.5%. Meanwhile, commodities remained the strongest performer on a year-to-date basis, returning 12%, nearly nine times equity's 1.4% YTD return. Fixed income remained flat for the month, delivering a 3.7% YTD return.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
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