Despite the volatility in markets, equity mutual funds continued to see robust growth in assets in October.
Thanks to sustained inflows in existing funds, equity mutual fund AUM (including ELSS) touched Rs. 3.96 lakh crore in October. As a result, the YTD inflows in equity funds (including ELSS) reached Rs. 59,935 crore. A majority of these inflows came in existing funds. Existing funds mopped up Rs. 12,812 crore while four new fund offers (all closed end funds) collected Rs. 547 crore.
In October, the gross equity sales stood at Rs. 13,359 crore while the gross redemptions were at Rs. 7,354 crore, which resulted in net inflows of Rs. 6,005 crore in equity funds. ELSS received net inflows of Rs. 264 crore.
The inflows were positive in most categories. Except Gold ETFs and fund of funds investing overseas, all other categories saw positive inflows. The industry received net inflows of Rs. 1.34 lakh crore in October, largely due to inflows in liquid funds. Liquid funds received net inflows of Rs. 1.03 lakh crore.
After liquid funds, income funds received the second highest net inflows at Rs. 22,875 crore. Income funds constitute 44% or Rs. 5.75 lakh crore of the total Rs. 13.24 lakh crore AUM of the industry.
There was a rush of three year FMP NFOs in October. A total of 19 such FMPs hit the market, which collectively mopped up Rs. 2,468 crore.
