Edelweiss Fund Insight: March 2010

Key highlightsTotal AUM at INR 7.65 tn; assets worth INR 82 bn added in February.Equity AUM at INR 2 tn; increased by INR 8 bn (up 0.40%) M-o-M.Debt AUM at INR 5.65 tn; increased by INR 74 bn (up 1.32%) M-o-M.Inflows of INR 18.50 bn in mutual funds (net of NFOs + existing schemes – redemptions) in February.There were no NFOs in equity schemes in February.Fund flow in existing schemes was INR 54.86 bn.Amount redeemed for the month stood at INR 36.36 bn.Mutual funds were net sellers of INR 7.2 bn in equities.The ratio of large-cap AUMs to mid-cap AUMs reduced to 0.79 from 0.80 last month.Large-cap funds increased exposure to banking, oil & gas, engineering, auto and pharmaceuticals andreduced it in IT, telecom, FMCG, metals and cements.Mid-cap funds increased exposure to FMCG, banking, pharmaceuticals, metals and oil & gas and reduced itin engineering, IT, telecom and auto.DB Realty, Cairn India, Bajaj Holding & Investments, LIC Housing Finance and Mphasis were some stocksthat evinced buying interest from funds during the month.Total cash balances across AMCs is currently ~INR 123 bn (~6.70% of the total corpus).Data Sources: AMFI, ACE MF and Edelweiss research3