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After RBI infusion, net redemptions under Credit Risk Funds down by 81.5%, claims AMFI

Credit Risk Funds constitute less than 5 percent of the total Debt Mutual Fund AUM.

May 03, 2020 / 03:44 PM IST

The Association of Mutual Funds in India (AMFI) on May 3 claimed that net redemptions under Credit Risk Funds have dropped 81.5 percent after the Reserve Bank of India (RBI) announced a special liquidity measure of Rs 50,000 crore for the mutual fund industry.

Net redemptions under Credit Risk Funds stood at Rs 2,949.49 crore as on April 24 and peaked at Rs 4,294.36 crore on April 27, AMFI has said.

Thereafter, for three days — April 28, 29 and 30 — the Net Redemptions under Credit Risk Funds stood at Rs 1,847.29 crore, Rs 1,251.17 crore and Rs 793.99 crore, respectively.

According to AMFI, this is an 81.5 percent drop in net redemptions in Credit Risk Funds category as on April 30, from the peak on April 27 “courtesy measures announced by the RBI”.

Also read | Franklin Templeton India Crisis: RBI announces Rs 50,000 crore special liquidity facility for mutual funds

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"Declining trend in net redemptions from Credit Risk Funds is a welcome development, indicative of Investors comfort from RBI's special liquidity facility available to the MF industry. AMFI will continue to work with Regulators for normal functioning of the market," Nilesh Shah, Chairman, AMFI.

Credit Risk Funds constitute less than 5 percent of the total Debt Mutual Fund AUM.

Moneycontrol News
first published: May 3, 2020 03:44 pm

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