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Tuesday, December 8, 2020

The AUM of mutual funds crossed the Rs 30 lakh crore mark for the first time

 

The AUM of mutual funds crossed the Rs 30 lakh crore mark for the first time


  • Rapid boom in the equity market and lucrative investor investment in debt funds
  • Investments withdrawn by investors from equities, withdrew Rs 13,000 crore in Nov.



Mutual fund industries have also seen a positive trend due to the sharp rise in the equity market. The country's asset management industries hit a new high in November. For the first time, Mutual Fund Industries' AUM has crossed the Rs 30 lakh crore mark. The target of Rs 30 lakh crore has been achieved due to lucrative investments in debt funds.


However, an average of Rs 13,000 crore has been withdrawn from equity funds during this period. According to an Amphi report, November saw an inflow of Rs 44,983.84 crore in debt funds. As a result, the total net inflows in the mutual fund industries reached Rs 27,194.15 crore and the total AUM of the mutual fund companies reached Rs 30,00,904.42 crore. However, in November, investors withdrew Rs 12,917.36 crore from equity funds. As a result, an investment of Rs 2724.95 crore was withdrawn in October from the previous month.


Also a reduction in the investment flow of SIPs

SIP inflows in November fell by Rs 7,799 crore to Rs 7,302.16 crore as compared to October. NS Venkatesh, chief executive of Amphi, said the decline in SIP contributions was not a cause for concern. There was a three-day holiday in late November. The SIP inflow was much higher in the last three days. However this will be seen in a November inflow.

Mutual funds, SIPs, tax savings investments: Etimoni

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