Inflows into Indian stock funds declined to the lowest since May even as the $2.1 trillion equity market rose for the second straight month in October.
Stock plans received 60.2 billion rupees ($844 million) last month, according to the Association of Mutual Funds in India. That’s 9% less than what they got in September and the smallest inflow since May.
Here’s what the top three asset managers bought and sold:
India’s top money manager held about $22 billion in equities, with financials accounting for 34% of stock assets followed by industrial companies at 13%.
The money manager held equity assets of about $21 billion, with financials making up 29% of assets followed by materials at 9%.
The fund house held about $26 billion in more than 300 stocks. Financials made up about 42% of assets, followed by energy at 9%.