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| Inflows into MF schemes cross Rs 1 lakh cr in April |
| Press Trust of India / New Delhi May 15, 2009, 17:18 IST |
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After suffering heavy outflows, the mutual fund industry witnessed a hefty over Rs 1.54 lakh crore inflows in April, mainly on account of significant investment in debt schemes.
After pulling out over Rs 54,54,650 crore in the April-March period of 2008-09, the 35 fund houses in the country saw inflows of Rs 1,54,192 crore during April.
In March, they saw outflows of Rs 7,18,196 crore, as per data available on the Association of Mutual Funds in India (AMFI) website.
"Uncertainty in the equity market has made banks park their surplus cash with income or debt funds with assured returns," Taurus Mutual Fund Managing Director R K Gupta said.
"During March the corporate houses go for cleaning up their balance sheets and therefore withdraw money invested in funds, leading to the industry witnessing outflows," he said.
While debt or income funds consumed a major chunk of the inflow worth Rs 1,03,055 crore, equity and balance funds saw redemptions to the tune of Rs 196 crore and Rs 64 crore, respectively.
Liquid or money market funds, which invest in safer and short-term instruments like treasury bills, certificates of deposit and commercial paper, saw inflows worth Rs 51,852 crore during April.
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