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In an encouraging start for this fiscal, the assets under management of the mutual find industry crossed ₹19 lakh crore in April.
The AUM of the MF industry grew 9.8 per cent to ₹19.26 lakh crore during the month, up from ₹17.54 lakh crore in March.
Of the ₹1.5 lakh crore that investors pumped in different categories last month, liquid, income and equity funds saw the highest inflows of ₹0.99 lakh crore, ₹0.35 lakh crore, and ₹0.09 lakh crore, respectively.
Equity funds also received support from the broader market rally with the Sensex touching an all-time high of 30,000 last month.
SIP inflows @₹4,200 crNet inflow in equity schemes hit a five-month high of ₹9,429 crore in April 2017, an increase of 14.8 per cent month-on-month. This comes on top of the over ₹70,000 crore investments in equities last fiscal.
Net inflow through the SIP route hit an all-time high of ₹4,200 crore with the mutual fund industry adding about 6.26 lakh SIP accounts every month last fiscal with an average ticket size of ₹3,660 an account. Mutual funds made a net investment of ₹9,918 crore in equities last month compared to ₹2,417 crore invested by foreign investors.
The total folio count at the end of April stood at 5.61 crore, 1.3 per cent higher than in March this year. The growth was primarily on the back of 5.85 lakh new folios added to the equity category and 1.5 lakh new folios to the balanced category. In April, the B15 (beyond 15) assets grew ₹98,525 crore to ₹3.23 lakh crore compared to ₹2.24 lakh crore in April last year.
e-wallet moveCurrently, the B15 accounts for 16.9 per cent of the total assets of the MF industry. However, the share of direct plans in B15 towns is only 22 per cent against 46 per cent in T15 cities.
SEBI has allowed investors to buy MFs up to ₹50,000 per fund house per annum through e-wallets in order to promote digital transactions in the MF industry. The redemption of such investments can be made only through the bank account of the investor. The mandate specifies that the e-wallet issuer company cannot offer any kind of incentives such as cash-back for purchasing mutual funds and the e-wallet has to be loaded using only net banking, debit card and cash.
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