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Apr 15, 2009, 03.55 PM IST
Financial year end led to redemptions in income and money market schemes. Gilt and Equity Linked Savings Schemes (ELSS- Equity) saw net inflow in March.
Mutual Funds registered outflows to the tune of Rs 98,697 crore (Rs 986.97 billion). (as per the figures provided by AMFI). However, gilt schemes mopped up Rs 482 crore. Tax being the flavour of the season, ELSS- Equity too witnessed an inflow of Rs 547 crore.
In the debt category, income and money market schemes witnessed money flowing out of their kitty in March. Income funds saw an outflow of Rs 62,381 crore, while money market funds witnessed an outflow of Rs 36,991 crore. The withdrawals in the income and money market schemes are attributed mainly from the capital adequacy point of view on account of closure of the financial year 2009.
Analysts believe that the institutional investors have withdrawn money more than the retail investors but expect the money to trickle in from the month of April.
The improvement in the performance of the equity markets reflected on mutual fund industry. Sensex gained 9.2% in the month. The open-ended equity schemes saw an inflow of Rs 1539 crore while redemption were to the tune of Rs 1463 crore. However, close end equity and equity interval funds witnessed outflow.
Given below are the sales and redemptions of all types of schemes in March 2009 (Rs in crore)
Global turmoil and financial crisis hampered the total assets managed by the mutual fund industry in the financial year 2009. It slipped by 21.9% to Rs 417,300 crore in March 2009 as against Rs 508,894 crore last year (YoY). The number of folios have increased by 41,68,539 (YoY).
Given below is the Assets Under Management (AUM) figures of all MF categories in March 2009 (Rs in crore).
Given below is the number of folios of MF categories in March:
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