Mutual Fund AUMs Decline In September After Two Straight Months Of Increase
For the quarter ended September, total assets managed by mutual funds grew by 7.6%.
Assets under management at Indian mutual funds declined on a monthly basis in September after seeing an increase for the previous two months.
September AUM fell nearly 1 percent month-on-month to Rs 20.4 lakh crore, according to data available on the Association of Mutual Funds of India website. The biggest dip came in the income fund segment which saw a decline of 5.6 percent to Rs 8.1 lakh crore.
For the quarter ended September, total assets managed by mutual funds grew by 7.6 percent.
Net Flows
Net outflow for the month stood at Rs 16,604 crore, the highest since May. However, for the quarter ended September, the net inflow was in excess of Rs 1 lakh crore.
For the equity segment (equity + equity-liked savings scheme), the net inflow declined 7 percent to Rs 18,936 crore on a sequential basis.
The Income segment saw an outflow of Rs 50,090 crore as compared to an inflow of Rs 8,390 crore in August, the biggest since March.
Fund Houses
ICICI Prudential Asset Management Co. Ltd. was India’s largest asset manager as its AUM grew 7.28 percent for the quarter.
Among the funds whose AUM was greater than Rs 50,000 crore, the biggest percentage growth was clocked by L&T Mutual Fund followed by SBI Mutual Fund.
L&T Mutual Funds’ assets rose 18.5 percent to Rs 52,749 crore while that of SBI Mutual Fund grew by 11.34 percent to Rs 1.88 lakh crore
The Nifty 50 Index fell 1.3 percent for the month of September. Foreign investors sold equity worth Rs 10,759 crore while domestic institutions pumped in Rs 21,025.5 crore in equity market during the same period, Bloomberg data showed.