The assets under management increased 33 percent to Rs 7.85 lakh crore from Rs 5.92 lakh crore in March 2011 largely due to liquid and income funds inflows
Mumbai: Redemption from equity funds continued in April 2011 recording net outflows of Rs 1,076 crore. In March 2011, Rs 124 crore had gone out of equity schemes.
ELSS saw net outflows of Rs 289 crore as some investors were looking to exit after the 3-year lock-in period.
The assets under management of the industry climbed 33 percent to Rs 7.85 lakh crore from Rs 5.92 lakh crore in March 2011. The boost in AUM was helped by combined inflows of Rs 1.85 lakh crore from liquid and income funds. Liquid funds mopped up Rs 1.47 lakh crore while income funds collected Rs. 37,891 crore. This is unlikely to be repeated as RBI has put a cap on banks’ exposure to mutual funds.
Among the categories that did well were equity ETFs (net inflow Rs. 510 crore), Gold ETFs (Rs 121 crore) and Overseas fund of funds (Rs. 25 crore).
FMPs collected Rs. 3065 crore while in the open end category, Daiwa Govt. Securities Fund - Short Term Plan collected Rs 57 crore in its NFO.
