The selling effect in the market has also been seen on the mutual fund industry.


The market has been under pressure in July due to growing trade war between the US-China, imposition of income tax surcharge on foreign portfolio investors (FPIs) and concerns over sluggishness of the economy.

The selling effect in the market has also been seen on the mutual fund industry. The total asset under management (AUM) stood at Rs 6,84,200 crore in July 2019. It is down by 5.46 percent. In comparison, the benchmark Nifty declined by 5.7 percent.

According to Edelweiss Security data, the largest investment in equity schemes is large cap, focused, mid cap and small cap. Together all these have an investment of Rs 6000 crores in the equity scheme.

The fund manager has invested in large-cap private banks. Apart from this, funds have also been invested in utilities, energy and select FMCG shares. However, investment in auto companies has been reduced during this period.

In its report, Edelweiss mentions 6 such stocks in which more than 1000 crores have been invested. The maximum investment has been done in Axis Bank. Fund managers have invested Rs 2145 crore in the bank. After this, ICICI Bank 1863 crore has been imposed.

An investment of Rs 1251 crore has been made in the government company GAIL, Rs 1179 crore in HDFC Bank. An investment of Rs 1056 crore in ITC and Rs 1051 crore in L&T has been made in July. Apart from these 6 shares, Rs 952 crore has been invested in Reliance Industries, Rs 743 crore in Tata Consultancy, Rs 689 crore in NTPC, Rs 512 crore in Titan, Rs 432 crore in Coal India and Rs 383 crore in Bajaj Finance.

Sold in Share

Apart from this, Infosys is among the stocks in which the fund manager reduced its stake in July. In July, fund managers sold stocks worth Rs 630 crore. Apart from this, shares of Shriram Transport Finance Company have sold 489 crore rupees. The fund manager has sold Rs 458 crore in UPL, Rs 436 crore in Mindtree and Rs 304 crore in IOC.