New Delhi, Nov 08 :
Mutual funds’ asset base increased to Rs 26.33 lakh crore in October-end, a rise of 7.4 per cent as compared with the preceding month, on the back of robust inflows in equity and liquid schemes. The 44-player industry logged an assets under management (AUM) of Rs 24.5 lakh crore in September-end, according to data from the Association of Mutual Funds in India (Amfi). Mutual fund houses witnessed an overall inflow of Rs 1.33 lakh crore last month after witnessing a redemption of Rs 1.52 lakh crore in September. Of these, liquid funds alone witnessed an impressive over Rs 93,200 crore last month. Fund managers attributed growth in the asset base to higher retail participation and robust inflows in equity schemes and liquid funds. The open-ended equity schemes witnessed an infusion of Rs 6,026 crore, while there was a small outflow of Rs 11 crore in close-ended equity plans, taking total equity inflows to Rs 6,015 crore last month
In September, net inflow in such schemes stood at Rs 6,489 crore. Himanshu Srivastava, senior analyst manager research, Morningstar Investment Adviser India said net inflows continue to pour into the equity-oriented mutual fund schemes tracking the surge in the domestic markets. In the month of October, the category received slightly lower inflow compared to September. The inflow indicate building up of a positive investment trend.
“Series of steps taken by the government in the recent times to boost domestic economy had improved sentiments and helped the markets to surge. This has helped investors slowly gain confidence and get back to investing. Additionally, the steady flow through SIP (Systematic Investors Plan) is also keeping the momentum going,” he added.
