Mutual Funds Accelerate Selling; Raise Deposit in Shrawan

Sep 06, 2023 12:23 PM Merolagani

Mutual funds have accelerated their selling in the month of Shrawan.  

Mutual funds had listed shares worth Rs 26.47 billion in Ashad which has dropped to Rs 25.41 billion in Shrawan. The listed shares decreased by 3.99 percent during the period.

Mutual funds increased the sale of listed shares whereas the purchase of non-listed shares in the month of Shrawan. They raised their investment from Rs 1.31 billion in Ashad to Rs 1.68 billion in Shrawan in non-listed stock which is 28.54 percent growth as per the monthly report of the month.

This selling spree of mutual funds kept the pressure on the NEPSE index. As per the NEPSE report, the index fell by 3.05 percent in Shrawan. NEPSE index which was at 2097.10 point in Ashad plummeted to 2033.14 by the end of Shrawan.

The index took a dip due to the huge pressure of selling. Along with other investors, mutual funds also accelerate their selling during the month.

Moreover, the net asset value (NAV) of most of the mutual funds has declined during the month. The mutual funds logged an average decline of 0.23 percent in their NAV. The average NAV of mutual funds was 10.62 percent in Ashad which declined to 10.39 percent in Shrawan.

Mega Mutual Fund 1 logged the highest NAV decline of 0.08 percent to 8.83 percent. meanwhile, Citizens Super 30 Mutual Fund raised its NAV by 0.23 percent to 10.46 percent. however, Sunrise First Mutual Fund logged the highest NAV of 12.90 percent.

During the month, the mutual funds have raised their bank deposits. The funds raised their normal deposits by 4.45 percent to Rs 8.87 billion in Shrawan from Rs 8.50 billion of Ashad.

Among them, Global IME Balance Fund-1 logged the highest growth in its normal deposit by 383.08 percent to Rs 117.6 million in Shrawan to Rs 24.3 million in Ashad. meanwhile, NIC Asia Select 30 has the highest normal saving of Rs 600 million.

However, the mutual funds have decreased its fixed deposit in Shrawan. The funds that had Rs 4.91 billion in fixed deposit in Ashad have only Rs 4.55 billion in Shrawan.

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