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Our Bureau

Mumbai , Dec. 16

Heavy inflows into liquid and money market mutual funds were seen in November, according to data by the Association of Mutual funds in India with inflows put at Rs 16,445 crore in liquid funds against Rs 6,332 crore in October.

"In November, call rates had dropped and there was easy liquidity in the system. Corporates, institutions and banks parked their money in liquid funds," said Mr Sandeep Bagla, Head-Fixed Income, Principal Pnb Asset Management Company.

Fresh purchases were made by mutual funds in the equity, liquid and ELSS categories. Overall, inflows rose to Rs 25,501 crore in November from Rs 15,276 crore in October. Equity funds saw fresh monies at Rs 2,053 crore (Rs 1,367 crore) and ELSS schemes recorded Rs 173 crore (Rs 106 crore).

New schemes

Thirty five new schemes were launched in November with 31 in the income category; two each in the equity and liquid funds. However, the income funds saw lesser repurchases than last month with net inflows placed at Rs 6,796 crore (Rs 7,519 crore).

Only balanced and gilt funds saw redemptions of Rs 79 crore and Rs 67 crore, respectively.

Total assets under management of all mutual funds were Rs 3,41,378 crore in November.

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