Equity mutual funds receive net inflows of Rs 514 crore in March

Net outflows from equity funds reach Rs 12931 crore in FY 2012-13 compared to net inflows of Rs 264 crore the previous year.

After nine months of successive outflows, equity mutual funds received Rs 514 crore net inflows in March, partly due to the six RGESS which closed for subscription in March. Gross sales (existing and new schemes) stood at Rs 3872 crore against which gross redemptions stood at Rs 3358 crore resulting in a net inflow of Rs 514 crore. RGESS funds collected Rs 242 crore. Also, as the tax season closed in March, ELSS received Rs 254 crore net inflows. 

The last time industry clocked a net inflow of Rs 506 crore was in May.  As the markets started to pick up in 2012-13, many investors redeemed from equity funds which resulted in net outflow of Rs 12931 crore in FY 2012-13.

Liquid funds recorded net outflow of Rs 1.09 lakh crore in March. “Corporate investors generally pull out money in the last week of March and infuse commensurate money in the first two weeks of April,” said Dhawal Dalal, EVP, Head – Fixed Income, DSP Black Rock Investment Managers.

Among the new fund offers, Morgan Stanley Gilt Fund collected Rs 53 crore. DWS Banking & PSU Debt Fund, Indiabulls Income Fund and IDFC Banking Fund mopped up Rs 665 crore. ICICI Prudential Nifty ETF and Reliance R* Shares CNX 100 Fund together collected Rs 20 crore. Total sales from new fund offers stood at Rs 23647 crore.

Gold ETFs saw a net outflow of Rs 87 crore in March. Industry’s assets under management went up 27% from Rs 5.87 lakh crore in March 2012 to Rs 7.44 lakh crore in March 2013.

Net inflow/outflow