NEW DELHI: Continuing the spree, the equity-oriented mutual funds witnessed a massive outflow of Rs 12,917 crore in November. This is the fifth straight month of withdrawal as investors booked profit amid higher market valuations.
Despite the outflow, the Assets Under Management (AUM) of the industry reached a record Rs 30 lakh crore at the end of November from Rs 28.23 lakh crore in October, according to the data released by the Association of Mutual Funds in India (Amfi).
“We still believe that there is a significant amount of money that can come back to the market in the event of any correction. The medium to long term potential of the equity markets remain strong,” G Pradeepkumar, CEO of Union AMC, said.
“Accommodative credit policy stance, continuous global liquidity flows, coupled with improved economic sentiment driven by healthier corporate earnings and positive GDP growth forecast has led to Indian mutual fund industry AUMs crossing historic highs and touching highest ever Rs 30 lakh crore landmark,” saod N S Venkatesh, Chief Executive of Amfi.
On the other hand, investors put in Rs 44,984 crore in debt Mutual Funds (MFs) last month as compared to Rs 1.1 lakh crore in October. Overall, the MF industry witnessed a net inflow of Rs 27,914 crore across all segments during the period under review as against an inflow of Rs 98,576 crore in October. All the equity schemes had witnessed outflows last month.