Morningstar's Manager Research team has come out with Domestic Fund Flows Report 2020 which provides insights into estimated flows, asset trends, and performance for domestic funds focused on the Indian equity and debt market.
Here are some interesting takeaways from the report about the funds which received the highest inflows year to date.
Large Cap
Large-cap funds received flows worth Rs 5,937 crore for the year to date as of August 2020, which was approximately 17% of the overall flows into equity funds.
Axis Bluechip Fund and Mirae Asset Large Cap Fund were the major beneficiaries of the year-to-date flows, receiving Rs 6,567 crore and Rs 2,064 crore, respectively. Cumulative flows in the large cap category excluding Axis Bluechip and Mirae Asset Large cap were net negative year-to-date. In percentage terms, Axis Bluechip managed to garner 111% of the total net flows in the category all by itself. Mirae Asset Large Cap mopped up 35% of the total net flows in the large-cap category. On the other hand, JM Large Cap and Aditya Birla Sunlife Frontline Equity saw outflows worth Rs 2,626 crore and Rs 1,787 crore.
Mid Cap
The mid-cap category received flows worth Rs 4,114 crore for the year to date, which was approximately 12% of the overall flows received in equity funds.
Axis Midcap Fund and Kotak Emerging Equity fund received the highest year-to-date flows to the tune of Rs 1,897 crore and Rs 1,395 crore, respectively. In percentage terms, Axis Midcap and Kotak Emerging Equity have managed to get a lion’s share over the overall flows in the category to the tune of 46% and 34%, respectively. The funds that saw the largest year-to-date outflows are HDFC Mid-Cap Opportunities fund (Rs 766 crore) and Franklin India Prima (Rs 622 crore).
Small Cap
The year-to-date flows in small-cap funds as of August 2020 amounted to Rs 3,465 crore.
SBI Small Cap Fund received the highest flows on a year-to-date basis with Rs 1,425 crore, closely followed by Axis Small Cap Fund with Rs 1,184 crore. In percentage terms on a year-to-date basis as of August 2020, SBI Small Cap Fund garnered 41% of the total funds, followed by Axis Small Cap, which garnered 34% of the total net flows. Franklin India Small Companies fund saw the highest outflows on a year-to-date basis to the tune of Rs 617 crore.
Multi Cap
The total year-to-date flows as on August 2020 for multi-cap fund were Rs 4,646 crore, which comprised 13% of the overall flows in the open-end equity funds.
The Kotak Standard Multi Cap Fund tops the charts with regards to year-to-date flows, receiving Rs 2,051 crore, followed by Parag Parikh Long Term Equity fund, which received flows of Rs 1,270 crore. In percentage terms, on a year-to-date basis as of August 2020, Kotak Standard Multi Cap garnered 44% of the total flows in the multi-cap category, whereas Parag Parikh Long Term Equity received 27% of the total net flows. Franklin India Equity had the highest outflow of Rs - 1,866 crore for the year to date.
Other notable categories
SBI Focused Equity Fund and Axis Focused 25 Fund received the highest flows for the year to date, amounting to Rs 3,295 crore and Rs 2,471 crore, respectively. Focused Funds cumulatively received 20% of the net year-to-date flows, which has been the highest for any equity categories. The AUM for the focused category also has grown by 10% since December 2019, with assets totalling Rs 53,098 crore.
The next fund that received the highest flows for the year to date was Axis ESG Fund, with flows cumulating to Rs 1,620 crore. The fund was launched in only February 2020.
The ELSS category of equity funds is the third-largest category of funds under equity funds, with assets of Rs 98,701 crore as of August 2020. Axis Long Term received flows Rs 1,480 crore, followed by Aditya BSL Tax Relief 96 and Mirae Asset Tax Saver with Rs 1,083 crore and Rs 1,012 crore, respectively.
Funds that have seen significant outflows since the turn of the year are L&T India Value Fund (Rs - 963 crore), followed by Franklin India Focused Equity (Rs - 847) crore.
