MF investment universe witnesses sizeable churn due to corporate defaults

The large- and mid-cap universe for equity mutual funds (MFs) is undergoing a sizeable churn, following a volatile first half of 2019 marred by corporate defaults and slowdown in the automobile sector.   Half a dozen stocks from the large-cap universe and over two dozen from the mid-cap universe have been replaced, shows the latest data from the Association of Mutual Funds in India (Amfi).   Ashok Leyland and MRF have lost the tag of large caps while non-banking financial companies (NBFCs) L&T Finance Holdings and Indiabulls Ventures have moved out of the large-cap space. Page In.....

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