The mutual fund industry has received a massive fund flow to the tune of Rs. 1 lakh crore in the month of January taking the total assets under management for the industry to a record high of Rs 22.41 lakh crore.
The mutual funds garnered interest as investors are now seen shifting from conventional assets such as gold and real estate to financial assets for investment. Also, the onus for rise in AUMs for the industry is being extended to aggressive awareness campaign both at the individual level and at an industry level.
As per the latest data with the Association of Mutual Funds in India (Amfi), investors have logged in a net inflow of Rs 1.06 lakh crore in mutual fund schemes in the month of January as against redemption of about Rs 1.75 lakh crore from these schemes in December.
The funds have been mainly parked in money market or liquid fund schemes which attracted an investment worth Rs. 96,552 crore and equity or equity linked saving schemes or ELSS that registered an inflow of more than Rs. 15000 crore.
On the other hand redemption to the tune of Rs 9,800 crore was made from income funds. At the same time, a pull out from gold ETFs of Rs 110 crore was made by mutual fund investors.
With Inputs From PTI