After sizeable outflows in September and October, equity MF schemes witnessed net inflows in November buoyed by inflows in new equity schemes launched earlier in the month.
Mutual Funds: Top Profit-making Schemes
Net inflows into mutual funds equity schemes totalled Rs 927 crore in November helped by the sale of three new close-ended equity schemes, which brought in inflows to the tune of Rs 847 crore, latest data from industry body Amfi show. ICICI Prudential US Value Fund Series I, Axis Small Cap Fund and Union KBC Trigger were the three closed-ended schemes launched during the month.
The MF inflows come as a relief for the industry as September and October had seen sizeable outflows of Rs 3,225 crore and Rs 2,116 crore, respectively. MF equity schemes have now seen inflows in only 17 months after the entry load was done away with in August 2009. Overall, net ouflows in equity schemes stood at Rs 9,767 crore in calendar year 2013.
Overall, assets under management of the mutual funds industry rose 6.7% in November to Rs 8.89 lakh crore helped by robust inflows of Rs 51,436 crore in liquid/money market schemes. November marked the second consecutive month of a rise in AUMs
Investors continued to shy away from gold ETFs, with net outflows totalling Rs 131 crore in November. The category has seen outflows in nine out of the 11 months this calendar year, with total outflows at Rs 1,659 crore. In August, gold ETF schemes had posted their highest monthly outflow in more than five years (Rs 588 crore) as the rupee’s depreciation boosted domestic gold prices, prompting investors to book profits in these funds.
Income funds saw outflows of Rs 3,333 crore in November compared with inflows of Rs 3,123 crore the previous month. ELSS ? equity schemes and balanced schemes ? saw modest outflows to the tune of Rs 228 crore and Rs 270 crore, respectively.
Gilt funds saw inflows of Rs 530 crore in November compared with outflows of Rs 44 crore in the previous month. The funds investing overseas category saw inflows of R71 crore compared with inflows of Rs 28 crore in October, highlighting the fact that overseas funds were slowly getting more popular with investors. At least four fund houses filed an offer document with market regulator Sebi in October to launch overseas funds.
