In a press conference today, N. S. Venkatesh, Chief Executive AMFI announced that the industry AUM has touched an all-time high of Rs. 25.20 lakh crore in August. Retail investors account for Rs. 10.5 lakh crore of the total AUM. On an annual basis, investments by retail investors grew at a faster pace (36%) than the overall industry (22%).
Venkatesh mentioned that the industry inflows have shown a remarkable resilience in the face of market volatility. Retail investor too have matured and are choosing to stay invested and participate in India’s growth story despite market fluctuations.
Majority of the inflows during the month came from liquid funds, which saw Rs. 1.71 lakh crore of inflows. Category-wise income funds (Rs. 6,520 crore), gilt funds (Rs. 283 crore), arbitrage funds (Rs. 2,452 crore) and gold ETF (Rs. 45 crore) reported net outflows during the month. Equity funds, which include pure equity, balanced, ELSS and ETFs, saw inflows of Rs. 12,790 crore.
Overall, the equity story remains robust while debt funds are seeing outflows. Venkatesh linked these outflows in long duration funds to the hardening of yields and weakening currency.
Category-wise inflow and out flow during August 2018
|
Category |
Net inflow/outflow |
|
Equity Schemes (Excluding Arbitrage Funds) |
7,734 |
|
ELSS |
641 |
|
Balanced |
2,630 |
|
ETF equity |
1,785 |
|
Arbitrage |
-2,452 |
|
Income |
-6,520 |
|
Gilt |
-283 |
|
Liquid |
1,71,108 |
|
Gold ETF |
-45 |
|
FOF investing overseas |
50 |
|
Total |
1,37,428 |
On a year on year basis, equity ETF, liquid and balanced categories grew at the fastest pace by 76%, 73% and 46% respectively. However, if we look at the total assets added, liquid (Rs. 2.55 lakh crore), pure equity + arbitrage (Rs. 1.93 lakh crore) and balanced funds (Rs. 59,604 crore) bag the top three spots.
Category-wise increase in AUM
|
Category |
AUM (Aug 2018) |
AUM (Aug 2017) |
Increase in AUM (%) |
Increase in AUM |
|
Equity Schemes + Arbitrage Funds |
7,67,218 (Equity AUM: 7,12,665 + Arbitrage AUM : 54,553) |
5,73,839 |
34% |
1,93,379 |
|
ELSS |
91,605 |
70,087 |
31% |
21,518 |
|
Balanced |
1,87,924 |
1,28,320 |
46% |
59,604 |
|
ETF equity |
94,406 |
53,734 |
76% |
40,672 |
|
Income |
7,57,137 |
8,58,188 |
-12% |
-1,01,051 |
|
Gilt |
8,964 |
17,069 |
-47% |
-8,105 |
|
Liquid |
6,04,266 |
3,49,039 |
73% |
2,55,227 |
|
Gold ETF |
4,445 |
5,189 |
-14% |
-744 |
|
FOF investing overseas |
1,761 |
1,632 |
8% |
129 |
|
Total |
25,20,430 |
20,59,289 |
22% |
4,61,141 |
Source: AMFI.
Arbitrage and pure equity AUM is combined as last year AMFI clubbed equity & arbitrage fund AUM.
