June 2019, was the third consecutive month of rise in equity flows, shows recent AMFI data. Equity funds saw inflows to the tune of Rs. 7,367 crore last month, up Rs. 2,398 crore compared to May 2019. Within equities, multi cap and large cap categories gained significantly while small and mid-cap funds saw lower inflows compared to May.
Commenting on the trend, N S Venkatesh, CEO AMFI said in a press release, “Stellar jump in the inflows into equity schemes over the last two months, especially after the decisive electoral verdict has helped repose retail investor trust. Political stability, lower inflation coupled with RBI stance to lower interest rates leading to possible robust growth in the corporate earnings is leading enhanced retail flows towards equity-oriented schemes.”
While equities flourished, debt schemes saw significant outflows last month. Fixed income schemes (excluding liquid and overnight funds) saw an outflow of Rs. 17,271 crore in June 2019. On a positive note, gilt schemes and long duration schemes saw net inflows owing to RBI’s dovish stance on interest rates, said N S Venkatesh.
Liquid and overnight funds meanwhile reported outflow of Rs. 1.56 lakh crore during the month. Vishal Kapoor, CEO, IDFC MF attributed the liquid fund outflow to the quarter-end phenomena of liquid fund redemptions by corporates.
While SIP inflows in the month of June 2019 (Rs. 8,122 crore) were marginally lower than May (Rs. 8,193 crore) overall they continue to maintain Rs. 8,100 crore + level. In addition, industry added around 4 lakh accounts in June to take the total SIP account number to 2.73 crore.
Overall, industry saw net outflow of Rs. 1.6 lakh crore largely on account of liquid fund redemptions.
Industry flows
|
Scheme Name |
Net Inflow /Outflow Rs. Crs. |
Change (Rs. Crore) |
Change (%) |
|
|
Jun-19 |
May-19 |
|||
|
Open ended Schemes |
|
|
|
|
|
Income/Debt Oriented Schemes |
|
|
|
|
|
Overnight Fund |
-4063 |
2347 |
-6410 |
-273% |
|
Liquid Fund |
-152432 |
68583 |
-221015 |
-322% |
|
Ultra Short Duration Fund |
-1926 |
1191 |
-3117 |
-262% |
|
Low Duration Fund |
-4689 |
-2353 |
-2336 |
99% |
|
Money Market Fund |
-3832 |
3896 |
-7728 |
-198% |
|
Short Duration Fund |
-607 |
-1316 |
709 |
-54% |
|
Medium Duration Fund |
-1159 |
-2063 |
904 |
-44% |
|
Medium to Long Duration Fund |
-156 |
-387 |
231 |
-60% |
|
Long Duration Fund |
22 |
90 |
-68 |
-75% |
|
Dynamic Bond Fund |
-786 |
-651 |
-135 |
21% |
|
Corporate Bond Fund |
-131 |
1430 |
-1561 |
-109% |
|
Credit Risk Fund |
-2695 |
-4156 |
1461 |
-35% |
|
Banking and PSU Fund |
799 |
3382 |
-2583 |
-76% |
|
Gilt Fund |
197 |
-45 |
242 |
-537% |
|
Gilt Fund with 10 year constant duration |
45 |
-61 |
106 |
-173% |
|
Floater Fund |
64 |
233 |
-169 |
-72% |
|
Sub Total – I |
-171349 |
70119 |
-241468 |
-344% |
|
Growth/Equity Oriented Schemes |
||||
|
Multi Cap Fund |
1835 |
648 |
1187 |
183% |
|
Large Cap Fund |
1510 |
53 |
1457 |
2748% |
|
Large & Mid Cap Fund |
489 |
279 |
210 |
75% |
|
Mid Cap Fund |
845 |
1273 |
-428 |
-34% |
|
Small Cap Fund |
927 |
1416 |
-489 |
-35% |
|
Dividend Yield Fund |
-11 |
-28 |
17 |
-60% |
|
Value Fund/Contra Fund |
38 |
-9 |
47 |
-523% |
|
Focused Fund |
651 |
1200 |
-549 |
-46% |
|
Sectoral/Thematic Funds |
880 |
61 |
819 |
1342% |
|
ELSS |
500 |
516 |
-16 |
-3% |
|
Sub Total - II |
7663 |
5408 |
2255 |
42% |
|
Hybrid Schemes |
||||
|
Conservative Hybrid Fund |
-309 |
-316 |
7 |
-2% |
|
Balanced Hybrid Fund/Aggressive Hybrid Fund |
-1910 |
-2481 |
571 |
-23% |
|
Dynamic Asset Allocation/Balanced Advantage |
476 |
341 |
135 |
40% |
|
Multi Asset Allocation |
-17 |
-19 |
2 |
-11% |
|
Arbitrage Fund |
3166 |
4554 |
-1388 |
-30% |
|
Equity Savings |
-543 |
-814 |
271 |
-33% |
|
Sub Total - III |
863 |
1266 |
-403 |
-32% |
|
Solution Oriented Schemes |
||||
|
Retirement Fund |
105 |
120 |
-15 |
-13% |
|
Childrens Fund |
32 |
55 |
-23 |
-42% |
|
Sub Total – IV |
137 |
175 |
-38 |
-22% |
|
Other Schemes |
||||
|
Index Funds |
191 |
220 |
-29 |
-13% |
|
Gold ETF |
-16 |
-26 |
10 |
-39% |
|
Other ETFs |
5383 |
2432 |
2951 |
121% |
|
Fund of funds investing overseas |
26 |
25 |
1 |
4% |
|
Sub Total – V |
5584 |
2651 |
2933 |
111% |
|
Total A – Open ended Schemes |
-157102 |
79619 |
-236721 |
-297% |
|
Close Ended Schemes |
||||
|
Income/Debt Oriented Schemes |
||||
|
Fixed Term Plan |
-2361 |
-1798 |
-563 |
31% |
|
Capital Protection Oriented Schemes |
-38 |
98 |
-136 |
-139% |
|
Infrastructure Debt Fund |
0 |
0 |
0 |
- |
|
Other Debt |
0 |
-302 |
302 |
-100% |
|
Sub Total |
-2399 |
-2001 |
-398 |
20% |
|
Growth/Equity Oriented Schemes |
||||
|
ELSS |
-30 |
-35 |
5 |
-13% |
|
Others |
-48 |
-404 |
356 |
-88% |
|
Sub Total |
-78 |
-439 |
361 |
-82% |
|
Other Schemes |
- |
|||
|
Total B – Close ended Schemes |
-2477 |
-2440 |
-37 |
2% |
|
Interval Schemes |
||||
|
Income/Debt Oriented Schemes |
-17 |
-188 |
171 |
-91% |
|
Growth/Equity Oriented Schemes |
-218 |
|||
|
Other Schemes |
- |
|||
|
Total C – Interval Schemes |
-235 |
-188 |
-47 |
25% |
|
Grand Total (A + B + C) |
-159814 |
76990 |
-236804 |
-308% |
|
Fund of Funds Scheme (Domestic) |
425 |
450 |
-25 |
-5% |
Source: AMFI
