Mutual Funds' asset base hit all time high of Rs 27 lakh cr on inflow in debt schemes
The 44-player industry logged an assets under management (AUM) of Rs 26.33 lakh crore in October-end, as compared to Rs 27.04 lakh crore by November end, representing a growth of 3 per cent, according to data from the Association of Mutual Funds in India (Amfi).
Mutual fund houses witnessed an overall inflow of Rs 54,419 crore last month as compared to Rs 1.33 lakh crore in October.Fund managers attributed growth in the asset base to strong inflows of around Rs 51,000 crore in debt-oriented schemes.
Apart from this, banking & PSU funds received funds to the tune of Rs 7,230 crore, while Rs 6,938 crore was infused in liquid funds, with investments in cash assets such as treasury bills, certificates of deposit and commercial paper for shorter horizon.The open-ended equity schemes witnessed an infusion of Rs 1,312 crore, while there was an outflow of Rs 379 crore in close-ended equity plans, taking total equity inflows to Rs 933 crore last month. In October, net inflow in such schemes stood at Rs 6,015 crore.
"While, equity net inflows have come down sharply in November, partly due to investors booking profits, the overall mutual fund industry AUM reached an all-time high of Rs 27 Lakh crore," AMFI CEO N S Venkatesh said"Goal-based, long term systematic investment plan (SIP) investments from retail investors continue to grow steadily, with SIP AUM at an all-time high at Rs 3.12 lakh crore," he added. Besides, gold exchange-traded funds saw an inflow of over Rs 7 crore after witnessing an outflow of Rs 31.45 crore in October.
(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)
- Apophis, the ‘God of Chaos’ asteroid is speeding up — increasing the likelihood of it hitting Earth in 2068
- Sputnik V: RDIF seeks vaccine's speedy registration, prequalification from WHO
- Ankhi Das quits as Facebook's India public policy head
- States urged to adopt national approach: Niti Aayog on 'free vaccine'
- Analysts expect no surprises from Axis Bank in the second quarter — loan growth and collections to be slow