November 11, 2022
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AMFI data perspective by Kislay Upadhyay, small case Manager and Founder of FidelFolio Investments
Yet another month of positive inflows in equity mutual funds (ex-hybrid) and FIIs turning positive in October, continues to indicate optimism among investors, with India being the fastest growing large economy amidst global slowdown.
This optimism for growth is reconfirmed as reasonable risk appetite continues, with 50% of total new folio additions in Mid and Small Cap schemes, only 9% in Large Cap. About one third of equity net inflows came into mid cap and small cap schemes, only 2% in large cap. Sectoral / thematic schemes also continue to garner inflows (29% of net inflows) and folio additions.
We expect this to be positive for mid-cap quality stocks. Quarterly results show mid-cap quality companies are growing their topline faster than larger ones, and the quality franchises are able to pass on inflation costs, supporting profit growth. FidelFolio Compounder small case is constructed to capture quality companies with high growth prospect and should be in flavor.
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