The home mutual fund trade’s property underneath administration (AUM) dipped 1 per cent month-on-month in March due to internet outflows from open-ended debt funds however cumulative inflows in fiscal 2021 equaled Rs 2.09 lakh crore whereas the asset base expanded 41 per cent.
In distinction, open-ended fairness funds recorded internet inflows for the primary time since June 2020, in response to Crisil Research.
The final month of fiscal 2021 noticed internet outflows of Rs 29,745 crore and the trade’s asset base settled at Rs 31.43 lakh crore, coming off the document excessive of Rs 31.64 lakh crore the month earlier than.
Crisil stated the open-ended debt fund class noticed internet outflows of Rs 52,528 crore this March, the best internet outflow seen since Rs 1.95 lakh crore in March 2020.
Money market fund classes bore the brunt of the outflow within the month as corporates and institutional buyers redeemed their investments for paying taxes.
Within the class, liquid funds witnessed the best outflows of Rs 19,384 crore, adopted by low length funds’ Rs 15,847 crore. On the opposite hand, in a single day funds, which put money into underlying securities that mature in a single day, attracted the best internet inflows of Rs 5,027 crore. Floater funds additionally evinced investor curiosity and internet inflows amounted to Rs 3,229 crore in March. In fiscal 2021, company bond funds, which put money into an underlying portfolio of top-rated papers, emerged as the most important attraction within the class – internet inflows over the 12 months ended March 2021 had been Rs 69,305 crore.
Credit threat funds noticed the best internet outflows at Rs 28,923 crore over the identical interval, stated Crisil. At an combination degree, open-ended debt funds’ AUM ended 3.36 per cent decrease on-month at Rs 13.28 lakh crore. In fiscal 2021, the class’s AUM superior 29 per cent or by Rs 2.99 lakh crore.