Dear Reader,
We present the Month Ended May 2013 issue of the Morningstar FundInvestor.
This Issue Includes
Manage Your Money:
11 Timeless Tips from Buffett and Munger
Matt Coffina sums up the key takeaways from this year's Berkshire Hathaway annual meeting.
Morningstar Analyst Rating:
HDFC Top 200 Fund
The fund towers head and shoulders above the competition.
Fund Manager’s View:
IDFC Mutual Fund
Mr. Suyash Choudhary – Head Fixed Income, discusses debt markets and overall macro environment.
Market Roundup
Indian Equity Markets
Equity markets rose for the second consecutive month in May but faced some heat waves as cues on both global and domestic front remained mixed thereby ensuring market volatility.
Global Equity Markets
US stocks rose with S&P 500 ending above the 1,600 level for the first time ever and the DJIA closing above 15,000 while European markets gained for May as the European Central Bank reduced the main refinancing rate by 25 bps to a record low of 0.50%.
Indian Debt Markets
Government bonds rallied very strongly in May on rate-cut and lower inflation expectations, but gave up some gains in the last week on the back of a surge in US treasury yields, some hawkish comments by the RBI and a sharp decline in the rupee.
Mutual Fund Update
Fund Flows & Asset Trends
With equity funds coming in as a disappointment, it was net inflows in debt-oriented categories which helped mutual fund AUM grow in May.
Fund Category Performance
Intermediate & long-term gilt and bond funds deliver their best monthly return in over 4 years in May, as bond yields drop sharply. Returns of equity funds were more subdued in May, with FMCG and technology sector funds outperforming during the month.
Portfolio Analysis of Diversified Equity Funds
In the month of April 2013, exposure to technology sector fell sharply in portfolios of diversified equity funds. Exposure to large-cap stocks continued to rise during the month.
Mutual Fund News
Get an update on what’s happening in the mutual fund industry.
Top Rated Funds
List of Morningstar top rated funds over 3 years
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Thank you,
Morningstar India