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Equity MFs' avg AUM declines 6% to Rs. 1.86 lakh cr in Sept quarter

The underlying market, represented by the CNX Nifty, fell by 2% during the quarter

November 08, 2013 9:43 IST | India Infoline News Service
Equity mutual funds' average assets under management (AUM) fell by 6% or Rs 12,737 cr highest fall in the last seven quarters to Rs 1.86 lakh cr in the September quarter led by outflows and mark to market (MTM) fall, according to CRISIL.

The underlying market, represented by the CNX Nifty, fell by 2% during the quarter on adverse global and domestic economic cues (except for September).

Among categories that gained AUM, fixed maturity plans (FMPs) rose by Rs 14,167 cr in the latest quarter, the highest gain recorded by the category since January-March 2011, CRISIL said in its monthly funds newsletter called CRISIL Fund Insights.

FMPs are closed ended funds that lock the high yields (an outcome of the liquidity tightening measures by the RBI) over the investment period. The benchmark 10-year government bond yield touched a five-year high of 9.23% during the quarter and ended at 8.77% as on September 30, 2013; the yield was 7.44% as on June 28, 2013.

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