MF AUM reaches all time high of Rs 21.41 lakh crore
, ET Bureau|
Nov 07, 2017, 12.51 AM IST
Mutual funds continue to attract money from investors with assets under management (AUM) of the industry touching a new high of Rs 21. 41 lakh crore adding Rs 51,148 crore in October. As per data from Association of Mutual funds of India (AMFI), equity-oriented mutual funds (including arbitrage funds), balanced funds and equity-linked savings scheme (ELSS) funds saw inflows of Rs 21,900 crore in October. In September, these funds saw inflows of Rs 27,077 crore.
For the first seven months of the current financial year, the mutual fund industry has seen cumulative inflows into these funds triple at Rs 1.51 lakh crore as compared to Rs 46,840 crore in the same period in the previous year. Gold ETFs continue to see outflows with investors redeeming Rs 34 crore in October. Cumulatively in the first seven months, investors have redeemed Rs 422 crore from gold ETFs.
“The momentum continues, with investors who have experienced mutual funds adding more money. In addition, as awareness spreads, mutual funds are gaining higher acceptance, leading to higher inflows,” says A Balasubramaniam, Managing Director, Birla Sunlife Mutual Fund.
Post demonetization, as money moved into banks, they lowered interest rates. With real estate and gold not giving good returns, investors have been looking at mutual funds as an investment avenue.
“Investors who are not evolved believe they can earn a stable return through mutual fund products,” says Dhiraj Relli, MD and CEO, HDFC Securities.
For the first seven months of the current financial year, the mutual fund industry has seen cumulative inflows into these funds triple at Rs 1.51 lakh crore as compared to Rs 46,840 crore in the same period in the previous year. Gold ETFs continue to see outflows with investors redeeming Rs 34 crore in October. Cumulatively in the first seven months, investors have redeemed Rs 422 crore from gold ETFs.
“The momentum continues, with investors who have experienced mutual funds adding more money. In addition, as awareness spreads, mutual funds are gaining higher acceptance, leading to higher inflows,” says A Balasubramaniam, Managing Director, Birla Sunlife Mutual Fund.
Post demonetization, as money moved into banks, they lowered interest rates. With real estate and gold not giving good returns, investors have been looking at mutual funds as an investment avenue.
“Investors who are not evolved believe they can earn a stable return through mutual fund products,” says Dhiraj Relli, MD and CEO, HDFC Securities.
