Mutual fund AUM rises 7.4 per cent to Rs 26.33 lakh crore in October

Mutual fund AUM rises 7.4 per cent to Rs...

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.

Among debt-oriented schemes, liquid funds with investments in cash assets such as treasury bills, certificates of deposit and commercial paper for shorter horizon saw an infusion of Rs 93,203 crore last month as compared to an outflow of Rs 1.4 lakh crore in September. Overall, debt funds saw an inflow of Rs 1.2 lakh crore.

Besides, gold exchange-traded funds saw an outflow of Rs 31.45 crore after witnessing inflow in the preceding two months. The safe-heaven asset saw an infusion of Rs 44 crore in September and Rs 145 crore in August. 


PostedOn: 08 Nov 2019 Total Views: 321




Paytm raises USD 1 billion in fresh fund...

Paytm raises USD 1 billion in fresh funding

Indian digital payments company Paytm said on Monday it has raised fresh funds from a group of investors, including existing backers such as SoftBank’s Vision Fund and Alibaba’s Ant Financial. Paytm did not officially disclose details of the funding, but a source said the Indian company ...

25 Nov 2019

Finance Commission likely to reject USD ...

Finance Commission likely to reject USD 12 bn pack...

India’s Finance Commission has told the power ministry that its proposal to award utilities 835 billion rupees (USD 11.6 billion) in incentives to install equipment to curb emissions is “unviable,” a senior official at the ministry told Reuters on Tuesday. The ministry submitted it...

20 Nov 2019

BSNL rolls out VRS scheme; expects 70,00...

BSNL rolls out VRS scheme; expects 70,000-80,000 e...

Within days of government approving a relief package for the ailing corporation, state-owned BSNL has rolled out a voluntary retirement scheme for its employees, and said it expects 70,000-80,000 personnel to opt for it leading to savings of about Rs 7,000 crore in wage bill. BSNL Chairman and Manag...

06 Nov 2019

Microsoft rolls out new cloud tool for a...

Microsoft rolls out new cloud tool for analysing b...

Microsoft Corp announced on Monday a new service aimed at helping large businesses put to use the huge amounts of data stored in corporate systems. The Azure Synapse system, to be unveiled at an event in Florida, is part of the company’s fast-growing cloud computing unit, which has driven the ...

05 Nov 2019

Sensex, Nifty open on tepid note; Yes Ba...

Sensex, Nifty open on tepid note; Yes Bank rallies...

Market benchmark BSE Sensex retreated from its record peak in early trade on Tuesday as investors booked profits amid positive cues from global equities. After rising over 165 points in opening session, the 30-share index pared all gains to trade 41.28 points, or 0.10 per cent, lower at 40,260.68. S...

05 Nov 2019

IndiGo places order for 300 Airbus plane...

IndiGo places order for 300 Airbus planes

Many of the latest batch of aircraft are not expected to be delivered until mid-way through next decade. IndiGo’s announcement came days after IndiGo reported biggest quarterly loss, with the company hurt by issues surrounding engines from a former supplier on A320neo-family jets already in th...

30 Oct 2019

Sensex jumps over 250 points, crosses 39...

Sensex jumps over 250 points, crosses 39200-mark

Equity benchmark BSE Sensex jumped over 250 points in early trade on Thursday tracking gains in index heavyweights HDFC twins and L&T amid mixed global cues. After hitting a high of 39,327.15, the 30-share index was trading 143.09 points, or 0.37 per cent, higher at 39,201.92 in the morning trad...

24 Oct 2019