September was a month of contrasts for the mutual fund industry. While investors pumped money into equity schemes in the wake of the stock market declines, short-term debt schemes witnessed sharp outflows triggered by the ratings downgrade of IL&FS and withdrawals by companies to pay their quarterly advance taxes.
Liquid or money market fundsshort-term debt schemes where investors park idle money— saw outflows of ₹2.11 lakh crore in September compared to inflows of ₹1.71 lakh crore ..