MFs’ assets under management (AUM) reaches Rs 27.85 lakh crore in January
The mutual fund industry saw its assets under management (AUM) rose to an all-time high of Rs 27.85 lakh crore in January. Fund managers said that the strong inflows of Rs 1.09 lakh crore in debt-oriented schemes increased the AUM of mutual fund companies.
Among liquid funds, debt-oriented schemes, with investments in cash assets such as commercial paper for the shorter horizon, certificates of deposit, treasury bills, received flows worth about Rs 59,683 crore. In January, The systematic investment plan (SIP) contribution of Rs 8,532 crore and it’s all-time high.
CEO and Executive director, Sundeep Sikka, Nippon Life India Asset Management said, “With the Union Budget 2020 leading several structural changes, we will continue to stay optimistic on the market outlook.”
Venkatesh said, “the RBI”s (Reserve Bank of India) stance on continuing benign interest rate cycle, driven by growth-oriented Budget and resulting in 15-20 percent growth for the mutual fund industry this fiscal, we expect this positive growth momentum in mutual fund AUMs to continue.
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According to data from the Association of Mutual Funds in India (AMFI), A total investment of Rs 1.2 lakh crore was made in mutual fund companies in January. In December 2019, investors withdrew Rs 61,810 crore from mutual funds.