Mutual fund's AUM touches Rs 7.93 lakh cr in Nov: Crisil

Dec 13 2012, 17:40 IST
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'The rise in the AUM was primarily due to inflows into money market funds', Crisil  said uoting the numbers. (Reuters) 'The rise in the AUM was primarily due to inflows into money market funds', Crisil said uoting the numbers. (Reuters)
Summary'The rise in the AUM was primarily due to inflows into money market funds', Crisil said.

Rating agency Crisil today said the mutual fund industry's assets under management during November grew by 3.25 per cent to touch Rs 7.93 lakh crore mainly due to inflows of funds into money market.

"The mutual fund industry's month-end AUM rose by 3.25 per cent (Rs 25,000 crore) to Rs 7.93 lakh crore in November, the highest month-end assets for the industry since April 2010.

"The rise in the AUM was primarily due to inflows into money market funds," Crisil said quoting the numbers, which are part of the monthly release by the Association of Mutual Funds in India (AMFI).

Money market saw net inflows worth Rs 11,400 crore, garnering over 91 per cent of the total inflows (of Rs 12,600 crore) seen by the industry in the month.

The inflows were, however, lower compared to Rs 18,200 crore in the previous month, Crisil said.

Inflows in the category are part of the cyclical money flow in the category as corporates invest their short-term investments in this category during the quarter before withdrawing a major chunk at the end of the quarter to meet their advance tax requirements, it said.

Equity funds' AUM rose 3.5 per cent despite registering outflows.

It rose by 3.5 percent (Rs 6,500 crore) to Rs 1.90 lakh crore despite witnessing outflows for the sixth consecutive month, the agency said.

The rise in the assets for the category was due to mark to market gains from the underlying markets, it added.

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