MF Industry AUM drops 10% largely due to redemptions in liquid funds.
Equity funds witnessed net inflow of Rs. 360 crore in December 2011 against Rs. 49 crore net outflows recorded last month. Income, balanced, liquid, fund of funds and ETFs together saw Rs. 64,470crore outflows, while gold ETFs and gilt funds added Rs. 157 crore and Rs. 420 crore, respectively,to their kitty.
As the tax season nears, ELSS saw Rs. 112 crore net inflows. Among the new fund offers, Union KBC Tax Saver Scheme mopped up Rs. 33 crore. Motilal Oswal MOSt 10 year Gilt Fund collected Rs. 74 crore.
The industry’s AUM dropped 10% from Rs. 6.81 lakh crore in November to Rs. 6.11 lakh crore in December 2011. Overall the industry saw Rs. 63,421 crore net outflows in December due to heavy redemptions in liquid schemes. In November, the industry recorded a net inflow of Rs. 3,773 crore due to inflows in liquid funds. The BSE Sensex slipped 6% in December.
