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| Debt MF schemes give positive returns in Oct |
| Press Trust of India / New Delhi Nov 16, 2009, 20:33 IST |
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Debt-oriented mutual funds gave positive returns in October, while almost all other funds, including equity, ended in the negative zone, fund evaluation and risk solutions provider Crisil FundServices has said.
Debt funds gave positive return driven by strong inflow, while equity and gilt funds ended in the red, it said.
Inflows into the MF industry in October totalled Rs 1.41 lakh crore, mainly propelled by investments in income fund.
Investors put in over Rs 1.51 lakh crore in income fund, while all other schemes witnessed outflows in October.
"Ultra short-term debt funds saw strong inflows in October, with banks parking back money in mutual funds they had withdrawn in September end to meet quarter end capital adequacy related requirements," Crisil FundServices Director Krishnan Sitaraman said.
Liquid or money market funds, which invest in safer and short-term instruments like treasury bills, certificates of deposit and commercial paper, saw outflows worth Rs 7,344 crore and investors pulled out over Rs 2,000 crore from equity fund.
"Equity funds continued to witness outflows due to a slowdown in distributor push, post the onset of the no entry load regime," Sitaraman added.
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