104th Day Of Lockdown

Maharashtra2119871152629026 Tamil Nadu114978665711571 Delhi100823720883115 Gujarat36858263231967 Uttar Pradesh2770718761785 Telangana2390212703295 Karnataka234749849372 West Bengal2212614711757 Rajasthan2026315965459 Andhra Pradesh200198920239 Haryana1750413335276 Madhya Pradesh1528411579617 Bihar12140901497 Assam11737743414 Odisha9526648648 Jammu and Kashmir84295255132 Punjab64914494132 Kerala5623334128 Chhatisgarh3207257814 Uttarakhand3161258642 Jharkhand2815204520 Goa181310617 Tripura158012061 Manipur13897330 Himachal Pradesh107074610 Puducherry101148014 Nagaland5782280 Chandigarh4874016 Arunachal Pradesh269781 Mizoram191130 Sikkim125650 Meghalaya80431
Business Other News 09 Jul 2019 Mutual Funds suffer ...

Mutual Funds suffer nearly Rs 1.60 lakh cr outflow in June: AMFI

PTI
Published Jul 9, 2019, 8:24 am IST
Updated Jul 9, 2019, 8:24 am IST
The net outflows of mutual funds stood at Rs 1,59,814.40 crore in June.
Net outflows from debt-oriented schemes were more than Rs 1.71 lakh crore in June against inflows of Rs 70,119 crore in May.
 Net outflows from debt-oriented schemes were more than Rs 1.71 lakh crore in June against inflows of Rs 70,119 crore in May.

New Delhi: Investors pulled out Rs 1.60 lakh crore on a net basis from mutual fund schemes in June against a net investment of Rs 76,989 crore in May mainly due to persisting weak confidence in debt-oriented plans, industry data showed Monday.

Net outflows from debt-oriented schemes were more than Rs 1.71 lakh crore in June against inflows of Rs 70,119 crore in May, the data by Association of Mutual Fund of India (AMFI) showed.

 

In recent months, the mutual fund industry has been grappling with redemption pressure in the wake of debt crises at various groups, including IL&FS, Essel and DHFL.

"The debt segment saw the largest outflow of Rs 1,71,349 crore as compared to Rs 70,119 crore inflow witnessed in May'19, as investors' confidence was dented after a series of defaults/delays by some popular names," Bajaj Capital CEO Rahul Parikh said.

The net outflows of mutual funds stood at Rs 1,59,814.40 crore in June.

Debt-oriented schemes, which include overnight fund, liquid fund, low duration fund saw a significant outflows with liquid funds being the worst hit.

Liquid funds alone witnessed an outflow of Rs 1.52 lakh crore.

On the liquid fund outflows AMFI CEO N S Venkatesh said, "This is a usual quarter-end phenomena where the industry does witness temporary redemptions from liquid funds."

Despite the outflow, the AUM (Assets Under Management) for June 2019, stood higher at Rs 25.81 lakh crores, as compared to Rs 25.43 lakh crore for May 2019, the AMFI said.

Equity mutual funds, however witnessed a rise of over 41 per cent in inflows to Rs 7,633 crore in June compared to Rs 5,407 crore seen in the previous month.

"Stellar jump in the inflows into equity schemes over the last two months, especially after the decisive electoral verdict has helped repose retail investor trust.

"Political stability, lower inflation coupled with RBI stance to lower interest rates leading to possible robust growth in the corporate earnings is leading enhanced retail flows towards equity oriented schemes," Venkatesh said.

In the equity segment, multi-cap funds attracted the highest inflows of Rs 1,835.45 crore, followed by Rs 1,509.52 crores in the large cap funds and Rs 927 crores in small Fund categories.

Investors preferred large-cap and multi-cap funds as investors played safe before the Union Budget, Parikh said.

Fixed Maturity Plans (FMP) continued to see an outflow in June after May and April. In June it registered an outflow of Rs 2,361.3 as compared to Rs 1,797.94 crore in May and the outflows stood at 17,644.42 crore in April.

Contribution to systematic investment plans (SIP) stood at Rs 8,122.13 crore in June coming in from 2.73 crore SIP accounts against Rs 8,183 crore in May.

...
Location: India, Delhi, New Delhi




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT