MUMBAI: Mutual funds in February saw a net funds outflow of Rs 20,083 crore, mainly coming from the liquid funds that saw an outflow of Rs 24, 509 crore and income funds of Rs 4214 crore, data released by the Association of Mutual Funds in India (AMFI) showed.
Despite the continued volatility in the markets, global and domestic factors that created tension, the equity investments showed resilience, with positive flows of Rs 3,948 core in the equity schemes, Rs 1,174 crore in equity-linked savings schemes (ELSS), and other equity inflows of Rs 5234 crore (Bharat ETF), N S Venkatesh, CEO, AMFI said.
“Amid global uncertainty, tension at the border, liquidity tightness and credit events, retail investor behaviour to stay invested is quite heartening. The continued healthy confidence that retail investors are showing, as is reflected in rising number of SIP inflows is laudable,” Venkatesh said.
Assets under management of the mutual fund industry was marginally lower in February at Rs 23.16 lakh crore, and the average AUM was Rs 24.24 lakh crore. Total number of folios have grown 17 per cent YoY to 8.17 crore, AMFI said. Retail folios are also showing healthy growth and is at 6.87 crore, it said.
Growth in mutual fund industry is mirroring the growth in the indices overall, around 5 per cent YoY as Sensex, and -1 per cent MoM, Venkatesh said. SIP is the shining star, adding new accounts.