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Thursday, January 09, 2014

Equity funds see Rs 1059 crore net inflows in December

Four new equity funds were launched in December which together mopped up Rs. 849 crore, shows AMFI data. 


Thanks to new fund launches, equity funds saw net inflows of Rs. 1059 crore in December for the second consecutive month. 


There were four new equity NFOs in December - ICICI Prudential Value Fund - Series 2, Reliance Close Ended Equity Fund - Series A, Birla Sun Life Banking and Financial Services Fund and Pramerica Midcap Opportunities Fund which together mopped up Rs. 849 crore. 


The assets under management of the industry fell 7% to Rs. 8.25 lakh crore in December from Rs. 8.89 lakh crore in November largely on account of outflows from liquid and income funds.


Debt 


Corporates and banks withdrew their investments as a result of which  liquid funds witnessed net outflows of Rs. 66313 crore. Income funds also saw net outflows of Rs. 8954 crore. The assets under management of income funds fell from Rs. 4.31 lakh crore to Rs. 4.24 lakh crore in December. The industry launched 74 FMPs which together collected Rs. 6776 crore. 


Gilt funds also witnessed net outflows of Rs. 519 crore as RBI hiked the repo rate by 25 basis points to tame inflation. A fall in interest rates benefits gilts funds.


ETFs


Gold ETFs continued to witness outflows in December on account of the dismal returns from gold funds. Investors pulled out nearly Rs. 157 crore from Gold ETFs. According to Value Research, the Gold fund category has delivered – 8 % return over a one year period. 


Net inflow/outflow in December

Category
 Net inflow/outflow in Dec
Net inflow/outflow in Nov
Income
-8954
-3333
IDF
375
 NA
Equity
1059
927
Balanced
25
-270
Liquid
-66313
51436
Gilt
-519
530
ELSS
-202
-228
Gold ETFs
-157
-131
Other ETFs
31
5
Fund of funds investing overseas
77
71
Total
-74578
49007
Source: AMFI. Rs in (crore)


Source: Team Cafe Mutual
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