When the Association of Mutual Funds in India (Amfi) reported net outflows of ₹2.1 trillion from liquid and money market funds in September, it gave credence to the view that the default by Infrastructure Leasing and Financial Services Ltd (IL&FS) had led to a wave of redemptions. Of course, as this column pointed out last week, that data was a bit skewed. Now that all mutual funds (MFs) have reported their scheme-wise assets under management (AUMs) for September, it’s easier to figure if there indeed were unusually high redemptions after the IL&FS default, and the subsequent scare about non-banking financial companies (NBFCs).
In the liquid and money market categories, AUMs fell by ₹1.25 trillion or by 20.5% compared to August. This is based on data collated by Value Research.
