Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Market / Stock-market-news/  Mutual funds’ assets under management edge up to fresh records in November
BackBack

Mutual funds’ assets under management edge up to fresh records in November

Mutual fund assets under management at the end of November stood at Rs16.5 trillion, up from Rs16.29 trillion a month ago

With the market declining during the month, the equity assets under management fell to Rs4.69 trillion from Rs4.85 trillion in the previous month. Photo: iStockPremium
With the market declining during the month, the equity assets under management fell to Rs4.69 trillion from Rs4.85 trillion in the previous month. Photo: iStock

Mumbai: Mutual funds’ assets under management (AUMs) rose marginally in November to touch a fresh record, data from Association of Mutual Funds in India (AMFI) showed on Thursday.

Assets under management at the end of November stood at Rs16.5 trillion, up from Rs16.29 trillion a month ago.

However, with the market declining during the month, the equity assets under management fell to Rs4.69 trillion from Rs4.85 trillion in the previous month, despite fresh net inflows of Rs90.79 billion, which was the second-best monthly inflow since June 2015.

In November, BSE’s 30-share Sensex and National Stock Exchange’s 50-share Nifty fell 4.57% and 4.65% respectively, their biggest monthly decline since February, as foreign investors took out money following the sudden withdrawal of high-value currency notes in India and the victory of Republican Donald Trump in the US Presidential elections.

Income funds which invest in a combination of government securities, certificates of deposits, corporate bonds and money market instruments saw inflows falling to Rs183.06 billion from Rs521.25 billion in the previous month.

Liquid funds that invest in very short-term market instruments such as treasury bills and call money that hold least amount of risk, saw net inflows of Rs13.50 billion, compared with net outflows of Rs348.13 billion in the previous month.

Gold ETFs (exchange-traded funds) resumed outflows, after seeing inflows for the first time in 41 months in October. It witnessed net outflows of Rs69 crore in November. ETFs other than gold, saw their best net inflows in 32 months, with Rs28.30 billion coming into their schemes.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 08 Dec 2016, 05:07 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App