Investors have pulled out more than R48,000 crore from various mutual fund schemes in June, after putting in a staggering R1.44 lakh crore in the preceding two months. As per latest data available with Sebi, there was a net outflow of R48,403 crore in June as against a net inflow of R37,435 crore in the previous month. In April, investors had pumped in R1.06 lakh crore in various mutual fund (MF) schemes, the highest in two years. This was the highest net inflow by investors in MF schemes in a single month since April 2011, when investors had put in R1.84 lakh crore. At a gross level, mutual funds mobilised R6.98 lakh crore in June, while there were redemption worth R7.46 lakh crore as well. This resulted in a net inflow of R48,403 crore. This significant level of funds withdrawal has also contributed to the decline in the total assets under management of mutual funds that fell to R8.11 lakh crore as on June 30, from R8.68 lakh crore in the previous month. The strong outflow in mutual fund schemes coincided with a fall in BSE?s benchmark Sensex by 232 points or 1.2% in June on account of withdrawal from Foreign Institutional Investors (FIIs). Overall, during the financial year 2013-14 so far, mutual funds on a net basis mobilised R95,606 crore as compared to R95,519 crore garnered in the corresponding period last fiscal.
ICICI Prudential AMC to launch thematic ETFs
ICICI Prudential Mutual Fund isplanning to come up with thematic ETFs (exchange traded funds) in consumption and financial services space in the future to increase its share of assets coming from this space, a top company official said. ?We are planning to come up with thematic ETFs in the space of consumption, infrastructure and financial services in the future. We have already received approval for launching consumption focused ETF,? said senior vice president & head (Products & Communication) of ICICI Prudential MF, Himanshu Pandya. He also said the company is planning to strengthen its presence in the ETF space. Currently, the mutual fund house has an asset under management under various ETFs of around R200 crore. The total equity assets managed by the AMC is around Rs 16,000 crore.
