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MF Assets Rise 4.81%

The August-end total shows that the tally improved to Rs 7.57 lakh crore

The assets of the mutual fund industry at the end of August have shown an increase of 4.81 per cent from last month’s figures. They increased from Rs 7.21 lakh crore at the end of July 2009 to reach Rs 7.57 lakh crore at the end of August 2009.

Most of this increase was the result of new money coming in the open-end income schemes. They saw the highest inflows worth Rs 45,150 crore. As a result assets under these schemes increased by 14.37 per cent.

Although two new open-end income schemes, Mirae Asset Short Term Bond Fund and Religare Credit Opportunities Fund were launched during this time, their collection was a minuscule Rs 240 crore. The new money therefore, was mostly attracted by the existing schemes.

Three new equity funds launched during this period – Edelweiss Absolute Return Equity Fund, Religare Business Leaders Fund and Sahara Super 20 Fund together garnered assets worth Rs 82 crore.

However, the response for the two Fund of Funds launches was much better – DSPBR World Energy Fund and JPMorgan Greater China Equity Off Shore Fund together collected Rs 400 crore. As a result, the assets under Fund of Funds (investing overseas) increased by 16 per cent to reach Rs 2,986 crore.

In August 2009, the assets under ELSS increased by about 2 per cent. They saw a net inflow of Rs 24 crore. Closed-end ELSS however, saw a fall of 40 per cent in their assets.

The assets under fixed maturity plans, or FMPs continued their losing spree, going down by 15 per cent to Rs 35,049 crore. While no new FMP was launched during this time, there was a net outflow of Rs 6,784 crore in this category.

A lot of fixed income interval schemes have been closing down since the liquidity crisis of October 2008, and their assets too have come down to Rs 384 crore, down 44 per cent in August.

However, the highest outflows of Rs 5,215 crore were registered by liquid and money market funds. This was followed by outflows to the tune of Rs 446 crore from the gilt funds.

The noise regarding gains captured by gold ETFs as result of the appreciating commodity, was tempered by the actual collections - there was just a marginal net inflow of Rs 15 crore in gold ETFs, indicating that not many investors had shown interest in the commodity. Their assets, however, increased by Rs 4.5 per cent to reach Rs 904 crore.

Inflows & Assets
Fund Category (AMFI)  Net Inflow / Outflow (Rs Cr)  Assets (Rs Cr)  Change (%)
    Aug-09  Jul-09  
Balanced -133 16,671 16,599 0.43
ELSS 24 20,172 19,800 1.88
Equity -142 160,797 156,793 2.55
Fund of Funds Investing Overseas 338 2,986 2,563 16.50
Gilt -446 3937 4,447 -11.47
Gold ETFs 15 904 865 4.51
Income 38,275 422,911 380,785 11.06
Liquid/Money Market -5215 127,429 139,156 -8.43
Other ETFs -43 831 878 -5.35
Source: AMFI