The overall industry assets under management stood at Rs 21.36 trillion, the March data showed
As the new financial year FY19 kick-started, slew of mutual fund statistics for the past year and month gone by was revealed by Association of Mutual Funds in India (AMFI).
According to the data on AMFI, the net inflows into equity funds have more than halved in March to Rs 66.6 billion from Rs 162.7 billion in February. The amount was also lower than that of March 2017 when the figure stood at Rs 82.16 billion.
Assets under management of equity schemes, including assets under ELSS, stood at Rs 7.5 trillion, down 5 percent from their peak of Rs 7.86 trillion in January. The Nifty index has shed 7.2 per cent from its record high of 11,130 touched in late January.
The overall industry assets under management stood at Rs 21.36 trillion, the March data showed.
Going by the investors data on AMFI, in the last one year, the domestic mutual fund industry added 32 lakh new investors in FY18 (Apr-Mar).
According to A.Balasubramanian, CEO of AMFI the addition in new investors was on the back of investor awareness campaign Mutual Funds Sahi Hai that was launched last year.
AMFI is also planning to soon launch the next leg of the media campaign.
In the week gone by, Moneycontrol also interviewed DHFL Pramerica Mutual Fund Executive Director and Chief Investment Officer EA Sundaram where he said that the fund house had zeroed in on stocks from the infrastructure and agriculture sectors to drive its growth.
To read the full interview click: DHFL Pramerica MF’s CIO Sundaram likes infra, agriculture themes for investments
Among other developments last week, Union Mutual Fund appointed Vinay Paharia as chief investment officer. Prior to joining Union Mutual Fund, Paharia with over 15 years experience has worked with Invesco Mutual Fund where he managed various equity schemes.
Aditya Birla Sun Life Mutual Fund collected Rs 628 crore through its Birla Sun Life Resurgent India Fund – Series 6 during the new fund offer that was open from February 21-March 7. The fund house received 56,431 applications for the fund.