Equity funds record inflows of Rs. 1401 crore; gold ETFs continue to glitter
Mumbai: The mutual fund industry’s assets slipped 8% from Rs.6.96 lakh crore in August to Rs. 6.41 lakh crore in September. The BSE Sensex fell 10% during the same period.
Nonetheless, equity inflows continue to be positive as fund houses aggressively promote SIP culture among investors. Equity funds mopped up Rs. 1,401 crore in September compared to Rs. 1,942 crore net inflows in August. Industry officials tell us that SIPs are contributing significantly to equity inflows. The net inflow in equity schemes stands at Rs. 3,104 YTD as on September 2011 compared to Rs. 14,624 net outflows in the corresponding period last year.
Gold continued to shine even as equity markets remained jittery. Gold ETFs collected Rs. 988 crore. The YTD inflows in Gold ETFs stood at Rs. 2,658 crore. On the other hand, ETFs which track Sensex and Nifty indices witnessed redemptions of Rs. 186 crore. ELSS category saw small net inflows of Rs. 39 crore.
Among the open-ended NFOs launched in September, Peerless Equity Fund collected Rs. 24 crore while Morgan Stanley Liquid Fund collected Rs. 676 crore. The close-ended category saw the launch of 53 schemes which together collected Rs. 7,118 crore.
Investors pulled out of income, liquid, gilt and overseas FOFs which saw combined redemptions to the tune of Rs. 56,700 crore.
