After witnessing outflows in December 2009, the month of January, 2010 saw net inflows as investors added Rs 97,242 crore to the mutual fund industry's coffers, or a 14.62 per cent change in assets.
Back in December, investors, mostly corporates and banks, but also retail, had pulled out a total of Rs 157,204 crore, according to data provided by Association of Mutual Funds in India (AMFI). The Income category alone had witnessed net outflows of Rs 140,789 crore in December.
This time around, in January, the Income category has witnessed net inflows of Rs 106,092 crore, but is significantly short of what was withdrawn in December.
The equity category was in for some good news in January as it witnessed net inflows to the tune of Rs 980 crore - the category had faced continuous outflows since August, 2009. Investors had pulled out around Rs 7,300 crore since then - Rs 2,185 crore in December, 2009 alone.
Liquid and gilt funds were not able to turn around their fortunes though. Liquid funds continued to witness net outflows in January as well, when investors pulled out Rs 10,218 crore. Apart from November 2009, they have been witnessing net outflows since August, 2009. In December alone, they saw net outflows touch Rs 14,267 crore.
Gilt funds too witnessed net outflows with investors pulling out Rs 257 crore in January. Even though it had seen net inflows of Rs 12 crore in December, the category has been suffering for some time now. In October and November it faced net outflows of Rs 201 crore and Rs 260 crore respectively.
The Balanced funds category did manage to effect a positive U-turn though, ending an outflow streak running since August. It had witnessed net outflows in December, 2009 of Rs 235 crore, but saw this turn into net inflows of Rs 56 crore in January.
Gold ETFs continued their golden run in January as well. Net inflows into the category were Rs 112 crore and what is extremely encouraging for it is the fact that inflows have been positive consistently since May, 2009.
New fund offers (NFOs) too contributed to the inflows. Altogether, in January, seven NFOs were launched. Two funds in open-ended Income category - Axis Short Term Fund and ICICI Prudential Banking & PSU Debt Fund - raised Rs 286 crore. On the other hand, there were three open-ended equity funds launched - Axis Equity Fund, Fidelity India Value Fund, and Sundaram BNP Paribas Select Thematic Fund & PSU Opportunities - which collectively raised Rs 1,590 crore.
Two closed-ended income funds were launched too - DWS Fixed Term Fund Series 68 and HDFC FMP 15M December 2009 -Series XII -, and they raised Rs 71 crore taken together.
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