Latest News
-
Mandatory Testing for Indian Spices Destined for Singapore, Hong Kong After Ban -
TRAI Advocates for Enhanced Telecom Infrastructure Sharing Among Licensees -
LTIMindtree Reports Slight Q4 Profit Dip, Optimistic About Upcoming Growth -
Axis Bank Announces Q4 Net Profit at Rs 7,599 Crore Amid Deposit Accretion Worries -
hBits Expands to Pune with CyberCity Magarpatta Acquisition, Eyes Investment Opportunities -
India's First Green Hydrogen Pilot Project Goes Live at Nathpa Jhakri -
DCB Bank Q4 Results: PAT Grew 9% To Rs 156 Cr, NII Jumps 4.5%; Dividend Declared -
RBI Halts New Customer Onboarding at Kotak Mahindra Bank Over IT Compliance -
Macrotech Developers' Annual Profit Triples Despite Q4 Dip -
DoT Engages TRAI for Equitable Satcom Spectrum Allocation Guidelines
AUM Of Mutual Funds Rise To Record High Of Rs 23.25 Lakh Crore In April
As selling pressure due to introduction of LTCG tax on equity mutual funds eased, inflows have again gained ground in comparison to outflow amounting to as much as Rs 50,752 crore.
As per the data released by the Association of Mutual Funds in India (AMFI), money under management by mutual funds increased by Rs. 1.37 lakh crore to an all-time high of Rs 23.25 lakh crore in April as redemption pressure due to introduction of LTCG tax on equity funds with effect from April 1, 2018 eased.
The increase in AUM is by 9% in comparison to the previous month, the most since April 2017. Compared to the overwhelming inflows in the April month, the previous month recorded outflow to the tune of Rs 50,752 crore.
Inflows into mutual funds were largely helped by liquid funds with flows of Rs 1.16 lakh crore in which corporates parked their surplus cash in the first month of the financial year. Income funds too witnessed heavy flow to the tune of Rs 5,200 crore after continuous selling for the past months.
On the other hand, retail inflows dived marginally after seeing a remarkable flow in retail oriented funds such as equity, balanced, arbitrage and ELSS year gone by to the tune of Rs 2.6 lakh crore. Also, balanced fund category also saw a dip in inflows by almost half to Rs 3,500 crore in comparison to March month due to levy of DDT @ 10% from April.
Chief executive officer at Mirae Asset Global Investments Equity assets said that these are good time to accumulate equity for long-term investors. He added that these are also extremely good times for SIP investors as they start getting the advantage of rupee-cost averaging by adding units at lower NAVs.
Goodreturns.in
