While net flows have certainly slowed, inflows into mutual funds have remained more or less static, says Chandresh Kumar Nigam, MD & CEO, Axis Mutual Fund. Gross inflows are coming from SIP flows and hence the figures are still reasonably positive, but lower than November and December, he says. Sectorally, he says it is important to see where India stands in terms of the global economy. "The global economy is weakening and that is not good news for a lot of sectors. We see the market narrowing," he told CNBC-TV18. Below is the verbatim transcript of Chandresh Kumar Nigam’s interview with Anuj Singhal and Ekta Batra on CNBC-TV18.
Anuj: There has been quite a bit of domestic institutional investor (DII) buying, that has not stopped, what is that telling us about the mutual fund flows, are you still seeing inflows or have they slowed down?
A: They have certainly slowed down. I think while the inflows as such have been maintaining, the net flows are obviously much lower over the last month or so but that is to be expected. When the markets are in such a situation, when there are worries, sentiment is poor, normally we have seen that the flows do come off.
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