Equity funds see net inflows of Rs. 61,089 crore YTD.
The assets under management of the industry crossed an all-time high of Rs. 12 lakh crore mark in February, thanks to inflows across the board, shows the latest AMFI data.
Except income, overseas fund of funds, and Gold ETFs, all scheme categories saw net inflows to the tune of Rs. 18,365 crore. Majority of inflows came in liquid funds (Rs. 8,784 crore), followed by equity funds (Rs. 5,217 crore). Thanks to the rising equity market, the inflows in equity funds stood at Rs. 61,089 crore YTD. The AUM of equity funds crossed Rs. 3 lakh crore mark in February.
Gilt funds, which invest in government securities, also saw net inflows of Rs. 2,058 crore on the back of expectations of a rate cut by RBI. The RBI surprised markets by slashing repo rate by 25 basis points from 7.75% to 7.50% on March 04 ahead of its policy announcements.
Among the new fund offers, open end funds like JP Morgan India Economic Resurgence Fund; LIC Nomura MF Mid Cap Fund; Reliance Retirement Fund - Wealth Creation Scheme and SBI Banking and Financial Services Fund collectively mopped up Rs. 449 crore. Closed end equity funds - HDFC Focused Equity Fund - Plan A; LIC Nomura MF Rajiv Gandhi Equity Savings Scheme Series 3 and Sundaram Value Fund Series II collectively mopped up Rs. 210 crore. Equity funds saw net inflows of Rs. 5,217 crore in February.
All in all, the industry saw net inflows of Rs. 18,365 crore in February.
