Total Assets Under Management (AUM) of the mutual fund (MF) industry improved by 6% (by Rs 41536 crore) to Rs 7.3 lakh crore in July 2012, due to huge inflows into income and liquid funds. The AUM of the industry crossed the 7 lakh crore mark in July, after a period of one year.
AUM of Income Funds rose up for the fourth consecutive time in July, it increased by 7.4% (by Rs 23446 crore) to Rs 3.4 lakh crore in July. This category witnessed a net inflow of Rs 21670 crore which being the highest in the last fifteen months. The inflows were on account of fixed maturity plan (FMP) new fund offers (NFOs) as well as inflows into dynamic bond funds, short term income funds and ultra short term debt funds.
AUM of Liquid Funds increased by 12.1% (by Rs 19283 crore) to Rs 1.78 lakh crore in July, supported by net inflows to the tune of Rs 17708 crore. Corporates and banks had re-invested their money back into liquid funds, which they had redeemed during June, to meet their quarter end commitments.
On the other side, AUM of equity funds fell by 0.8% (by Rs 1255 crore) to Rs 1.55 lakh crore, while assets of equity-linked saving schemes (ELSS) fell by 0.7% (by Rs 161 crore) to Rs 23068 crore, due to mark-to-market loss. The equity market represented by the benchmark - Sensex and Nifty fell 1.11% and 0.95% respectively in July. Equity and ELSS Funds faced net outflows to a tune of Rs 804 crore and Rs 145 crore respectively in July.
AUM of Gold ETF increased by 3.1% (by Rs 312 crore) to Rs 10398 crore, taking it to all time high, due to rise in the gold price and due to net inflows to a tune of Rs 95 crore in July.
Net inflows into the industry stood at Rs 38456 crore in July as against net outflow of Rs 23969 crore in June.
Funds mobilized from 30 newly launched schemes in July stood at Rs 2723 crore, out of which Rs 2417 crore came from 28 close ended income funds. Axis Focused 25 Fund and ICICI Prudential US Bluechip Equity Fund (open ended equity funds) mobilized Rs 306 crore.