Assets under management
(AUM) of the Indian mutual fund industry created a new record in January at
Rs.11.81 lakh crore, according to data released by the Association of Mutual
Funds in India. (AMFI)
Equity funds posted net
inflows for the 9th consecutive month, attracting net inflows of Rs. 6,324
crore in January against the backdrop of positive sentiment for the asset
class. The CNX Nifty gained 6.35% in the month on positive domestic and
international cues.
Balanced funds, which
invest a major portion of their funds in equity, also benefited from the
ongoing uptrend in the equity market as the category drew in Rs. 835 crore
during the month.
Cyclical inflows into
liquid funds provided the biggest boost to the overall AUM. Net inflows to the
tune of Rs. 85,000 crore helped liquid funds become the biggest contributor to
the industry AUM in the latest month. Cyclical inflows & mark-to-market
gains boosted liquid funds’ AUM to Rs. 2.65 lakh crore.
A research report by
ratings agency CRISIL said, “The historical trend has shown that quarter-end
outflows in the category are reversed at the start of the quarter as banks and
corporates re-invest the surplus funds they had withdrawn to meet quarter-ended
reserve requirements and payment towards advance tax outflows, respectively.”
Income funds logged net
inflows of Rs. 12,163 crore on falling yields aided by the surprise interest
rate cut by the RBI.
Gilt funds saw net
inflows for the 5th consecutive month, the category attracting net inflows of
Rs. 1,813 crore.
2015 January saw the
launch of 7 new equity schemes, one ELSS scheme and 21 new debt-linked income
funds.
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