Mutual funds get Rs 1.5 lakh cr from investors in Apr-Nov

Dec 16 2013, 02:38 IST
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SummaryInvestors have put in more than R1.5 lakh crore in various mutual funds schemes in the ongoing financial year

Investors have put in more than R1.5 lakh crore in various mutual funds schemes in the ongoing financial year, nearly twice the amount pumped in by them in entire 2012-13 fiscal.

As per the latest data available with Sebi, there was a net inflow of R1,50,675 crore during the 2013-14 fiscal (April-November) as against a net inflow of over R76,000 in the preceding fiscal.

Prior to that, a net amount of more than R22,000 crore and over R49,000 crore moved out of the mutual funds' kitty during 2011-12 and 2010-11, respectively.

Mutual funds pool together money from many investors and invest it on their behalf, in accordance with a stated set of objectives.

At a gross level, mutual funds mobilised over Rs 63 lakh crore during April-November period of this year, while there were redemptions worth R61.5 lakh crore as well. This resulted in a net inflow of R1,50,675 crore.

According to industry experts, mutual fund investors have put in most of their money in debt schemes during April and May on the anticipation of interest rate cuts by the RBI.

"As prospects of faster interest rate cuts by the RBI spurred investors into buying debt schemes," Debashish Mallick, MD and CEO at IDBI MF said.

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