Thanks to the revival in markets, the mutual fund industry saw the highest net inflows in FY14-15 since 2007-08, shows the latest SEBI data. In fact, the industry’s net inflows have almost doubled in FY14-15. The industry received net inflows of Rs. 1.03 lakh crore in FY14-15 compared to Rs. 53,782 crore in the previous fiscal.
As a result, the industry’s AUM went up from Rs. 8.25 lakh crore to Rs. 10.82 lakh core during the same period. The Sensex had risen 25% in FY14-15.
“The Indian mutual fund industry has been one of the fastest growing and most competitive segments of the financial sector. Its net inflow has been highest since 2007-08 and the assets under management are at an all-time high. This growth may be contributed both to a positive outlook as well as well-timed and paced initiatives by SEBI to re-energize the mutual fund industry from time to time,” stated SEBI annual report.
Private sector vs. public sector
Due to the sheer number of players, private sector mutual funds retained the dominant place in the mutual fund industry in 2014-15. Private sector fund houses received inflows of Rs. 1.03 lakh crore while public sector MFs saw net outflows of Rs. 412 crore. SEBI data shows that gross inflows in private sector mutual funds rose by 14% to Rs. 91.43 lakh crore in 2014-15 from Rs. 80.49 lakh crore in 2013-14.
The dominance of private sector MFs is reflected by the number of investor accounts or folios held by them. As on March 2015, private sector MFs had 2.72 crore folios while public sector MFs had 1.45 crore folios. Private sector players added 13.78 folios while public sector players added 1.89 lakh folios in FY14-15.
Mobilization by public sector and private sector MFs
|
Year |
Private sector MFs FY14-15 |
Public sector MFs FY14-15 |
|
Gross mobilization |
||
|
2013-14 |
80,49,397 |
17,18,703 |
|
2014-15 |
91,43,962 |
19,42,297 |
|
Redemptions |
||
|
2013-14 |
80,00,559 |
17,13,758 |
|
2014-15 |
90,40,262 |
19,42,710 |
|
Net inflows/outflows |
||
|
2013-14 |
48,838 |
4,943 |
|
2014-15 |
1,03,700 |
-412 |
|
Source: SEBI Rs. crore |
||
Category
A majority of inflows came in open end schemes in FY14-15. Open end schemes received net inflows of Rs.1.50 lakh crore while closed end and interval schemes saw net outflows of Rs. 43,219 crore and Rs. 3,955 crore. There were around 810 open-end schemes and 1,002 closed end schemes as on March 2015.
Scheme wise analysis of inflows shows that except fund of funds investing overseas, all other categories saw positive inflows. Equity funds received the largest inflows at Rs. 71,030 crore followed by income/debt funds at Rs. 22,556 crore.
Category wise inflows
|
Category |
Net inflows FY14-15 |
AUM March 2015 |
|
Equity |
71,030 |
3,45,139 |
|
Balanced |
9,826 |
26,368 |
|
ETFs |
776 |
14,715 |
|
Income |
22,556 |
6,94,128 |
|
Fund of funds investing overseas |
-900 |
2,408 |
|
Source: SEBI. Rs. cr. |
||
