Fixed maturity plans accumulate Rs. 340 billion in 3 months

India Infoline News Service | Mumbai |

FMPs reported inflow of Rs. 65.05 billion in the quarter to December 2012

Mutual funds have accumulated Rs. 340.65 billion through fixed maturity plans (FMPs) between January and March 2013 as corporates and high net worth individuals invested their money in high-yielding schemes fearing a fall in interest rates.

FMPs reported inflow of Rs. 65.05 billion in the quarter to December 2012, data from Association of Mutual Funds India (AMFI) and Morningstar, a US-based fund tracker, indicated.

FMPs are close-ended schemes with maturity periods primarily ranging between 370 days and 390 days.

The Reserve Bank of India is expected to cut its key policy rate by 25 basis points for a third time this year, to put the Indian economy back in growth trajectory, by drawing comfort from falling inflation and commodity prices.


 

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