domestic gold prices, prompting investors to book profits in these funds.
In terms of sectors, export oriented segments, IT and pharma stocks were in the limelight throughout the year on account of weak domestic currency and improving global growth. Besides, industry continues to be bullish on these sectors for the next year as well.
About the next year, HSBC Global Asset Management CEO Puneet Chaddha said: "We believe that 2014 should see more of the same as in 2013. Debt funds could continue to attract retail investors towards the first half of the year with some allocation to hybrid products like MIPs and Dynamic funds."
"Having said that, it could be a good year for equities as by the end of 2014 we would have a government that has been newly formed and the US taper could have become stale news (or 'digested' in market parlance)," he added.
Going forward, Sebi could adopt a more stricter approach towards 'non-serious' asset managers. An advisory committee formed to review the net worth requirement for Asset Management Companies has suggested an upward revision in the minimum networth required for an AMC, Mehra said.