MUMBAI: NET outflows in the liquid funds of mutual funds pulled down the overall assets under management (AUM) of mutual funds at the end of June to Rs 24.25 lakh crore from the May-end figure of Rs 25.94 lakh crore.
Liquid funds saw net outflows of Rs 1.52 lakh crore, and this showed their impact on the overall income and debt-oriented schemes recording a net outflow of Rs 1.71 lakh crore.
While the average AUM for June in the category was Rs 11.56 lakh crore, June-end AUM stood at Rs 10 lakh crore.
“This is a usual quarter-end phenomena, where the industry does witness temporary redemptions from liquid funds,” said N S Venkatesh, CEO AMFI. Liquid funds are short-term funds with maturity of 91 days that invest in debt securities.
Recently, SEBI had tweaked regulations for liquid funds to improve security for investors, making mandatory investment of 20 per cent of the fund corpus in T-bills and government securities, bringing down the sector cap to 20 per cent.
Equities continued to see positive inflows of Rs 7,663.14 crore, with a major chunk flowing into multi-cap and large-cap funds.
From Rs 4,608.74 crore inflows in April, this segment has seen a consistent increase in inflows so far this fiscal.
In the closed funds category, Fixed Maturity Plans continued to witnesses outflows, of Rs 2,361.31 crore.