Assets under management
(AUM) of mutual funds witnessed a 14.6 per cent rise to touch a record
Rs 9.45 lakh crore in April on the back of a spurt in inflows into
liquid funds, rating agency Crisil said today. Assets under equity
funds gained for the third consecutive month, tracking the uptick in the
equity indices, it added. "The mutual fund industry's AUM rose to a
record Rs 9.45 lakh crore, up 14.6 per cent...The spurt in the AUM,
which is the largest absolute gain in the last one year, was primarily
due to inflows into liquid funds," the rating agency said. As per the
agency, liquid funds attracted inflows of Rs 1.24 lakh crore, which is
the biggest in three years, as corporates and banks ploughed the surplus
money back into the funds that were withdrawn in March due to advance
tax payout and fiscal end requirement. The liquid funds' assets rose
94.6 per cent to touch Rs 2.59 lakh crore by April-end. However, income
funds registered outflows, with assets under this category touching Rs
4.58 trillion, mainly due to outflows from close-ended and interval
funds. Gilt funds saw outflow for the fifth consecutive month with AUM
falling to Rs 5,895 crore in April. Meanwhile, investors continued to
exit gold exchange traded funds (ETFs) for the 11th straight month with
consolidated outflows amounting to Rs 2,400 crore till April. "For the
latest month, assets of gold ETFs fell by 1.7 per cent to Rs 8,527 crore
amid outflows of Rs 146 crore in April. Of late, the popularity of the
category has waned due to a subdued performance by the underlying
assets," it said. However, equity fund AUM gained for the third month
in a row with April witnessing a gain of 0.6 per cent or Rs 1,139 crore
to Rs 1.92 lakh crore. "The gains were led primarily by mark to market
gains in the broad market," it said. Similarly, other ETFs and global
fund of funds report outflows during the month. "Other ETFs saw record
outflows of Rs 1,213 crore and assets declined 18.20 per cent to Rs
3,700 crore in April," the rating agency said. Fund of funds investing
overseas too saw outflows with the category's AUM fell by 0.2 per cent
to stand at Rs 3,186 crore as of April.
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