Page 40 - Banking Finance January 2018

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development (F4) and benefits and facilities (F5). Hence, comfort in school buildings: A case study of awareness
these are the identified impact of job satisfaction of women and participation of users. Environment and behavior,
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MFs invest Rs 1 lakh cr in stocks in 2017; remain bullish

Domestic mutual funds pumped in a staggering over Rs 1 lakh crore in the stock market during 2017 and remain bullish
in the New Year to maximize the returns for investors. Mutual funds invested Rs 1.2 lakh
crore in equities in 2017, much higher than over Rs 48,000 crore infused last year and
more than Rs 70,000 crore pumped in during 2015, latest data with the Securities and
Exchange Board of India (Sebi) showed. "We are seeing a clear shift in preference for
financial assets over physical assets such as real estate and gold, which is likely to con-
tinue even going forward.
"Apart from this trend, the consistent delivery of returns by the mutual fund industry,
prudent risk management and increasing initiatives on enhancing investor awareness assisted in increasing the pen-
etration of mutual fund products," Kotak Mutual Fund CIO Equity Harsha Upadhyaya said. The high investment by
mutual funds could be attributed to strong participation from retail investors.In fact, retail participation is now provid-
ing the much needed liquidity to the stock markets that have been largely driven by Foreign Portfolio Investors (FPIs)
for the past few years.The investment by mutual funds in equities have outshone those by FPIs.

FPIs have infused close to Rs 50,000 crore this year after putting in over Rs 20,500 crore last year and nearly Rs 18,000
crore in 2015. Prior to that, they had pumped in over Rs 97,000 crore in 2014."This year the domestic institutional
investors have pipped FPIs on net inflows, thus making the market less dependent on FPI money. "This has also pro-
vided greater stability to the market as during the times when FPIs were pulling money out of the Indian equity mar-
kets, the stock market continued its upward march with the support from the flows by domestic institutional inves-
tors," Morningstar India Senior Analyst Manager Research Himanshu Srivastava said. Retail money flew into equities
through mutual funds supported the benchmark indices -- Sensex and Nifty -- that surged by 28 percent and 29 percent
respectively this year. Further, retail investor accounts grew by 1.4 crore to 5.3 crore.

40 | 2018 | JANUARY | BANKING FINANCE

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