Huge inflows into equity funds and money market instruments have resulted in a 10 per cent growth in assets under management of the mutual fund industry. Total assets stood at Rs.11.86 lakh crore in April against Rs.10.83 lakh crore in the previous month.
In April, money market or liquid segment saw an inflow of Rs.1.02 lakh crore against Rs.1.24 lakh crore in the same period year-ago. Equity funds however, saw a huge inflow of Rs.10,406 crore against only Rs.208 crore in the year-ago period.
Balanced funds witnessed a net inflow of Rs.1,183 crore against an outflow of Rs.108 crore during the period under reference.
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According to data released by Association of Mutual Funds in India (AMFI), 44 fund houses together have witnessed an inflow of Rs.1.10 lakh crore under various schemes in April. However the figure is lower than Rs.1.12 lakh crore in the same period in the previous year.
In fact, the total assets under management hit a record of Rs.12.02 lakh crore in February. Fund houses are upbeat about the industry’s performance for the current financial year as equity markets are expected to continue their momentum, making the segment attractive.