The mutual fund (MF) industry saw net inflows in equity schemes in January, the first time since the Securities Exchange Board of India banned entry load on equity schemes in August last year. During the month, sales of equity MFs almost doubled on a month-on-month basis.
According to data released by the Association of Mutual Funds in India (AMFI), the equity segment registered net inflows of Rs 980 crore as against net outflows of Rs 2,185 crore in December. Equity sales during the month stood at Rs 7,837 crore as against Rs 4,047 crore in December as the three new fund offers in the equity segment during the period mopped up Rs 1,590 crore.
Equity heads and chief investment officers of various fund houses said a relatively stable market in January attracted investors.
"Retail as well as HNI (high net worth individual) money poured into equity schemes in January," said an equity head of a mid-sized fund house.
Distributors said investors who booked profit when the market rallied sharply last year were coming back.
POSITIVE NOTE
Net inflow/(outflow) in equity schemes
Month Inflow/ (Outflow)
August ‘09 (142)
September ‘09 (1,756)
October ‘09 (2,123)
November ‘09 (1,109)
December ‘09 (2,185)
January ‘10 (980)
All figures in Rs crore.
Figures in bracket shows outflow
Source : Association of Mutual Funds in India (AMFI)
On the debt side, the industry saw net inflows of Rs 1,06,092 crore. The entire flow remained in the positive territory for all the schemes combined (at Rs 97,242 crore)
Liquid and money market schemes continued to see net outflows (Rs 10,218 crore). This figure was Rs 14,267 crore in December.
Gilt funds and fund of funds were the other two categories that saw net outflows, of Rs 257 crore and Rs 58 crore, respectively.
In January, total sales of MF products stood at Rs 8,84,738 crore as against Rs 7,76,811 crore in December
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