Mutual fund assets gain 41% in FY21: Crisil report
Premium- The last month of fiscal 2021 saw net outflows of ~ ₹29,745 crore and the industry’s asset base settled at ₹31.43 lakh crore, said the report.
PremiumThe domestic mutual fund industry's assets under management (AUM) dipped 1% on-month in March because of net outflows from open-ended debt funds but cumulative inflows in fiscal 2021 equalled ₹2.09 lakh crore while the asset base expanded 41%.
In contrast, open-ended equity funds recorded net inflows for the first time since June 2020, according to Crisil Research.
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1 min read . 07:30 AM ISTThe last month of fiscal 2021 saw net outflows of ₹29,745 crore and the industry's asset base settled at ₹31.43 lakh crore, coming off the record high of ₹31.64 lakh crore the month before.
Crisil said the open-ended debt fund category saw net outflows of ₹52,528 crore this March, the highest net outflow seen since ₹1.95 lakh crore in March 2020.
Money market fund categories bore the brunt of the outflow in the month as corporates and institutional investors redeemed their investments for paying taxes.
Within the category, liquid funds witnessed the highest outflows of ₹19,384 crore, followed by low duration funds' ₹15,847 crore.On the other hand, overnight funds, which invest in underlying securities that mature in a single day, attracted the highest net inflows of ₹5,027 crore. Floater funds also evinced investor interest and net inflows amounted to ₹3,229 crore in March.
In fiscal 2021, corporate bond funds, which invest in an underlying portfolio of top-rated papers, emerged as the biggest attraction in the category - net inflows over the 12 months ended March 2021 were ₹69,305 crore.
Credit risk funds saw the highest net outflows at ₹28,923 crore over the same period, said Crisil. At an aggregate level, open-ended debt funds' AUM ended 3.36% lower on-month at ₹13.28 lakh crore. In fiscal 2021, the category's AUM advanced 29% or by ₹2.99 lakh crore.
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