Mutual Funds garner over Rs 70,000 cr from investors
Mutual funds pool together money from many investors and invest it on their behalf, in accordance with a stated set of objectives.
Investors have put in more than Rs 76,000 crore in various mutual funds in 2012-13 after pulling out money money from such schemes in the preceding two years.
Market participants believes that buoyant stock market and a slew of reform measures taken by the government as well as regulator Sebi (Securities and Exchange Board of India) havehelped the investors to mobilise funds in mutual fundindustry.As per the latest data available with Sebi, there was a net inflow of Rs 76,539 crore during the 2012-13 fiscal as against a net outflow of over Rs 22,000 in the preceding fiscal.Besides, a net amount of more than Rs 49,000 crore moved out of the mutual funds' kitty during 2010-11. Prior to that, mutual funds had mobilised Rs 83,000 crore in 2009-10, Sebi data shows.At gross level, mutual funds mobilised over Rs 72.67 lakh crore in last fiscal, while there were redemption worth Rs 71.91 lakh crore as well. This resulted in a net inflow of Rs 76,539 crore.This significant level of fund mobilisation has also helped the total asset under management of mutual funds to grow to Rs 7.01 lakh crore as on March 31, 2013.Also read: Not-so-good investment options for retirement planningMutual funds pool together money from many investors and invest it on their behalf, in accordance with a stated set of objectives. Strong FII (Foreign Institutional Investors) inflows has pushed up the BSE's benchmark Sensex by over eight per cent in last fiscal. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
