Comments
The assets under management of mutual fund industry have crossed the Rs 25 lakh crore mark for the first time to touch Rs 25.20 lakh crore in August against Rs 23.05 lakh crore logged in July, registering a growth of nine per cent, on the back of strong inflow into liquid schemes.
Retail assets of the industry were up 26 per cent at Rs 10.55 lakh crore. Inflow into equity schemes was lower at Rs 7,734 crore against Rs 8,500 crore even as AUMs were up at Rs 14,948 crore (Rs 10,983 crore) due to better performance of equity market.
The monthly inflow through Systematic Investment Plan into MF schemes was up a tad at Rs 7,658 crore (Rs 7,554 crore) with 90 per cent of inflows into equity.
N S Venkatesh, CEO, AMFI, said it is a momentous occasion for the industry with AUMs crossing Rs 25 lakh crore and the target to touch Rs 50 lakh crore in the next three years would happen sooner than later with the steady inflow from retail investors.
The industry, which has logged 29 months of continuous inflow, is poised for a healthy growth with the proactive regulation of SEBI and favourable macro-economic situation, he said.
Retail investors trust in mutual funds can be gauged from the fact that investments through SIP have grown for 56 consecutive months, he added.
Liquid funds witnessed an inflow of Rs 1.71 lakh crore against an outflow of Rs 31,000 crore in July. However, liquid fund AUM was down at Rs 17.19 lakh crore against Rs 21.54 lakh crore logged in July.
Balanced fund recorded a net inflow of Rs 2,630 crore against addition of just Rs 287 crore in July. Income fund saw an outflow of Rs 6,520 crore against an outflow of Rs 7,950 crore in July. Arbitrage fund logged an outflow of Rs 2,452 crore against an inflow of Rs 1,333 crore.
On the outflow from some of the schemes, Venkatesh said investors are switching their investment from income funds due to hardening of yield and parking it in liquid funds before rebalancing their portfolio. Outflow from gold ETFs was at Rs 45 crore compared with Rs 50 crore in July.
Venkatesh said AMFI will be finalising a special campaign to promote debt funds among retail investors.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.