The assets of Indian mutual funds stayed above Rs 20 lakh crore for the third straight month, driven by investments in balanced funds.
Total assets under management stood at Rs 21.4 lakh in October, up 4.95 percent over the previous month, according to data available on Bloomberg. The biggest jump came from the balanced funds category with assets growing 9.3 percent sequentially to Rs 1.47 lakh crore. The liquid or money market category saw the biggest dip with total assets declining to 3.1 percent to Rs 3.44 lakh crore month-on-month.
Total equity assets under management crossed the Rs 7-lakh-crore mark for the first time. Equity assets increased 7.4 percent to Rs 7.07 lakh crore, rising for the eleventh straight month.
Net inflows for the month stood at Rs 51,148 crore after an outflow of Rs 16,604 crore in September. That was driven by the income funds category, with net inflows of Rs 40,845 against an outflow of Rs 50,090 crore in September.
Liquid/money market funds saw an outflow of Rs 13,261 crore against an inflow of Rs 4,833 crore in the previous month. Equity inflows (equity and equity-linked savings schemes) declined for the second straight quarter. It was down 15.5 percent at Rs 16,002 crore in October compared to the previous month.
During the month, S&P BSE Sensex climbed 6.17 percent. Domestic institutions pumped in Rs 10,090 crore and foreign investors bought Rs 1,922.6 crore worth of shares.
Also Read: How To Structure Your Mutual Fund Portfolio
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