MF AUM at a new peak of Rs 27L cr; equity inflows dip

Mumbai: Assets under management (AUM) of the mutual fund industry has touched a new peak in November, crossing the Rs 27-lakh crore mark for the first time, aided by good inflows in select income/debt-oriented schemes. This, despite tepid inflows owing to outflows in select equity schemes.

Data released by the Association of Mutual Funds in India (Amfi) shows the mutual fund industry AUM grew by 2.7 per cent month-on-month as of November 30 to Rs 27.04 lakh crore against AUM of Rs 26.32 crore in October.

Inflows to income/debt-oriented schemes of Rs 51,427.58 crore helped industry AUM cross Rs 27 lakh crore milestone.

Growth/equity-oriented schemes inflows fell sharply to Rs 1,311.65 crore against inflows of Rs 6,026.38 crore in October while hybrid schemes saw outflow of Rs 572.16 crore compared to inflows of Rs 314.40 crore in the previous month.

Large-cap funds could attract inflows of Rs 1,196.90 crore while mid-cap funds received inflows of Rs 801.53 crore. Contra-funds saw outflows of Rs 955.55 crore.

Among the hybrid schemes, the category of arbitrage funds saw inflows of Rs 5,353.56 crore and balanced hybrid funds saw outflows of Rs 4,931.71 crore.

Equity assets, however, gained with the Sensex rising by 1.65 per cent during the month from 40,129.05 as on October 31 to 40,793.81 on November 30.

"Equity net inflows have come down sharply in November, partly due to investors booking profits," N.S. Venkatesh, CEO, Amfi, said.

"Goal-based, long term systematic investment plan (SIP) investments from retail investors continue to grow steadily, with SIP AUM at an all-time high at Rs 3.12 lakh crore," Venkatesh said.

Among the debt-oriented schemes the largest contribution came from overnight funds with inflows of Rs 20,649.14 crore. Inflows were also high in liquid funds (Rs 6,938.14 crore), bond & PSU funds (Rs 7,230.54 crore) and money market funds (Rs 5,135.70 crore).

However, credit risk funds saw outflows of Rs 1,898.61 crore and medium duration funds witnessed outflows of Rs 927.85 crore.