Despite Net Outflows, Funds’ Assets Up A Tad In July

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New Delhi, Aug 9: The Indian fund industry ended with assets of Rs 1.5775 trillion in July, up Rs 18.72 billion or 1.2 per cent from Rs 1.5587 trillion on June 30, according to data released on Monday by the Securities and Exchange Board of India (Sebi).

The rise was despite a net outflow from funds in the month. The fund industry witnessed a net outflow of Rs 2.63 billion in July. The gross mobilisation was Rs 696.35 billion, while redemption was Rs 698.98 billion. Despite net outflow, the assets under management (AUM) of mutual funds rose marginally during July on account of a rise in their market value.

Cash plan was the only category to witness inflow in July of Rs 36.10 billion. All the other categories, which include gilt, debt, equity and balance funds, reported net outflows.

Debt funds witnessed the highest outflow of Rs 21.62 billion, followed by equity funds at Rs 10.56 billion.

Gilt funds reported outflow of Rs 5.15 billion, while balanced plans faced an outflow of Rs 1.29 billion in July. According to Sebi, private sector funds continue to command lion’s share of total assets. In July, with assets of Rs 1.232 trillion, their share was 78.1 per cent, down from 80.0 per cent a month ago.

UTI Mutual Fund was second with a share of 13.7 per cent, up from 12.1 per cent at the end of June. At the end of July, UTI MF had assets of Rs 216.38 billion, up from Rs 188.75 billion a month ago.