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Wednesday, April 15, 2015

Assets of Mutual Fund Industry declines by 9.9% in March 2015 on Sequential Basis

Total Assets Under Management (AUM) of the mutual fund (MF) industry decreased by 9.9% (by Rs 1.19 lakh crore) to Rs 10.83 lakh crore in March 2015 after witnessing 1.8% rise (by Rs 20840 crore) to Rs 12.02 lakh crore in February 2015. The m-o-m basis AUM of all major categories witnessed fall. 

Liquid Funds saw highest fall in AUM. AUM of the industry grew by 31.2% (or by Rs 2.58 lakh crore) YoY in March. 

Among all the categories Income Funds, Liquid Funds, Gold ETF and Fund of Funds Investing Overseas categories witnessed net outflows, while others witnessed net inflows. Net outflow in the industry stood at Rs 1.1 lakh crore in March, as against net inflow of Rs 18365 crore in February 2015. Moreover, March month witnessed highest net outflow in FY15. The Liquid / Money Market funds saw highest outflows, while Equity Funds registered highest inflows. 

Funds mobilized from 62 newly launched schemes in March stood at Rs 6692 crore, out of which Rs 5149 crore came from 45 income funds (03 open ended, 41 close ended and 01 interval fund) and Rs 1447 crore came from 12 equity schemes (03 open ended and 09 close ended) and Rs 62 crore from 02 close end ELSS-Equity and Rs 25 crore from 03 open ended other ETFs schemes.

AUM of equity funds decreased 0.3% (by Rs 835 crore) to Rs 3.06 lakh crore in March 2015 over February 2015. The assets of equity-linked saving schemes (ELSS) increased by 0.6% (by Rs 235 crore) to Rs 39470 crore. Meanwhile, Equity Funds registered a net inflow of Rs 7032 crore for the month and ELSS Funds saw net inflow to a tune of Rs 1449 crore. Thus, total equity funds witnessed net inflow of Rs 8481 crore. Fall in AUM during March was primarily due to fall in stock market. Net inflows in equity funds totaled to Rs 68121 crore and net inflows in ELSS totaled to Rs 2908 crore in FY15.

AUM of Liquid Funds decreased by 41.1% (by Rs 1.14 lakh crore) to Rs 1.63 lakh crore primarily due to net inflows of Rs 1.13 lakh crore. Inflows into the category are cyclical in nature as companies, banks and financial institutions withdraw money in the quarter for paying advance taxes and plough back the money after quarter end. Liquid and money market schemes have seen net inflows of Rs 9782 crore in FY15. 

AUM of Income Funds decreased by 1.3% (by Rs 6593 crore) to Rs 5.16 lakh crore. Moreover, this category witnessed net outflow of Rs 8927 crore. Net inflows in income funds totaled to Rs 4875 crore in FY15. 

Other Exchange Traded Funds (ETFs) has witnessed net inflow of Rs 623 crore in March as against net inflow of Rs 752 crore in February 2015. The total AUM of Other ETFs increased by Rs 265 crore or by 3.4% to Rs 8060 crore on sequential basis, and increased by Rs 3532 crore when compared with same month of the previous year.

The total AUM of Fund of Funds Investing Overseas decreased by Rs 118 crore or by 4.7% on sequential basis. Net outflows from this category totaled to Rs 900 crore in FY15. 

AUM of Gold ETF decreased by 2.8% (by Rs 189 crore) to Rs 6655 crore after falling by 5.5% in February 2015. On YoY basis, assets of this category decreased by 23.3%. The category witnessed outflows for the 14th consecutive month to a tune of Rs 111 crore. Net outflows from Gold ETF totaled to Rs 1475 crore in FY15. 

AUM of Gilt Funds increased by 10.9% (by Rs 1434 crore) to Rs 14614 crore in March and the category reported net inflow of Rs 1439 crore in March 2015. Net inflows in gilt funds totaled to Rs 7712 crore in FY15, compared with net outflows of Rs 1868 crore in the previous year. 

Assets of balanced funds decreased by 0.5% (by Rs 139 crore) in March to Rs 26368 crore when compared on sequential basis. Net inflows in this category totaled to Rs 9826 crore. 
 

Category Assets Under Management (AUM) * % Change
Mar-15 Feb-15 Change
Income 515773 522366 -6593 -1.3
Infrastructure Debt Funds 1178 1169 9 0.8
Equity 305669 306504 -835 -0.3
Balanced 26368 26507 -139 -0.5
Liquid 162562 276070 -113508 -41.1
Gilt 14614 13180 1434 10.9
ELSS - Equity 39470 39235 235 0.6
Gold ETF 6655 6844 -189 -2.8
OTHER ETFs 8060 7795 265 3.4
Fund Of Funds Investing Overseas 2408 2526 -118 -4.7
TOTAL 1082757 1202196 -119439 -9.9
*Rs. Crore

Category Assets Under Management (AUM) * % Change
Mar-15 Mar-14 Change
Income 515773 460671 55102 12.0
Infrastructure Debt Funds 1178 879 299 34.0
Equity 305669 165560 140109 84.6
Balanced 26368 16793 9575 57.0
Liquid 162562 133280 29282 22.0
Gilt 14614 6115 8499 139.0
ELSS - Equity 39470 25547 13923 54.5
Gold ETF 6655 8676 -2021 -23.3
OTHER ETFs 8060 4528 3532 78.0
Fund Of Funds Investing Overseas 2408 3191 -783 -24.5
TOTAL 1082757 825240 257517 31.2
*Rs. Crore

Category Net Flows (Rs. Cr)
Mar-15 Feb-15 FY2015 FY 2014
Income -8927 -152 4875 40547
Infrastructure Debt Funds - - 188 863
Equity 7032 5217 68121 -7627
Balanced 1491 1235 9826 -1986
Liquid / Money Market -112810 8784 9782 24098
Gilt 1439 2058 7712 -1868
ELSS - EQUITY 1449 623 2908 -1642
Gold ETF -111 -74 -1475 -2293
Other ETFs 623 752 2251 2890
Fund of Funds Investing Overseas -83 -78 -900 1101
Total -109897 18365 103288 54083
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