Mutual fund industry assets reach record high at Rs. 9.16 lakh crore

Mutual fund industry’s assets under management reached a record high of Rs. 9.16 lakh crore in February from Rs. 9.03 lakh crore in January on the back of inflows in income funds, shows the latest AMFI data.

Income funds

Income funds or fixed maturity plans received net inflows of Rs. 12,955 crore. The industry launched 128 FMPs which mopped up Rs. 21,307 crore while gross redemptions stood at Rs 30,812 crore which resulted in net inflows of Rs. 12955 crore. Fund houses typically launch long tenure FMPs during February and March, which if held of more than one year by investors, offer double indexation benefits. Income funds constitute Rs. 4.47 lakh crore or 47% of industry’s total Rs. 9.16 lakh crore assets under management. Canara Robeco Medium Term Opportunities Fund which was launched in February collected Rs. 106 crore.

Equity

Equity funds received net inflows of Rs. 572 crore due to new fund launches. HSBC Asia Pacific (EX Japan) Dividend Yield Fund and Motilal Oswal MOSt Focused Midcap 30 Fund collected Rs. 94 crore while close end equity funds - ICICI Prudential Equity Savings Fund - Series 1, IDFC Equity Opportunity - Series 3 and Sundaram Select Micro Cap Series III mopped up Rs. 157 crore. BSL Focused Equity Fund - Series 1 (RGESS) mopped up Rs. 50 crore. The AUM of equity funds went up from Rs. 1.52 lakh crore to Rs. 1.57 lakh crore due to mark to market gains. The S&P BSE Sensex gained 606 points in February.

ETFs

Gold ETFs continued to see redemptions in February. The category saw net outflows of Rs. 178 crore. There are 14 Gold ETFs in the industry with assets under management of Rs. 9330 crore. ETFs linked to other indices also saw net outflows of Rs. 19 crore.