Mutual fund equity assets top Rs 8 trillion, shows Amfi data

Assets under management (AUM) for equity mutual funds (MFs) went past Rs 8 trillion for the first time in April, shows data released by the Association of Mutual Funds in India (Amfi).

Assets for equity schemes, which include arbitrage funds and equity-linked savings schemes (ELSS), have soared 40 per cent in the past one year. Overall, AUM for the industry has grown 20 per cent in the past year, to a record high of Rs 23.3 trillion. Equity schemes have been able to grow at a much faster clip, thanks to robust net inflow and the up-move in

the market. In the past 12 months, equity MFs have got inflows of Rs 1.73 trillion, at a monthly average of Rs 140 billion a month.

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Meanwhile, the benchmark Sensex has risen 18 per cent. The share of equity AUM in the overall asset pie has increased from 29.5 per cent last April to 34.4 per cent.

Mutual fund equity assets now account for nearly seven per cent of India’s total market capitalisation. On the other hand, foreign portfolio investors account for nearly 18 per cent of the country’s market cap.