The assets under management (AUM) of the top 10 liquid schemes in May surged 51.3 per cent, from a month ago, to over Rs 70,000 crore, driven by good liquidity in the banking system, according to data available with NewsWire18. | |
| The inter-bank call money rate had dropped to a decade's low of 0.80-0.90 per cent on May 31. This has lured corporates to these schemes ahead of the advance tax outflow slated for Friday. |
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| Liquid funds give annual average returns of around 7.5-8.0 per cent. |
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| ICICI Prudential Liquid Plan that continued to top the chart last month, had AUM in May of Rs 19,600 crore, up 54.7 per cent from a month ago. |
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| Reliance Liquidity Fund maintained its second slot. However, Principal Cash Manager Fund's assets surged the highest, 96 per cent, to jump three places to occupy the fifth rank. |
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| Kotak Mahindra Mutual's liquid fund displaced LIC's to achieve the third slot. |
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| HDFC Liquid Fund, the new entrant in the list, inched up to occupy the eighth place with an asset rise of 74 per cent. |
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| Tata Liquid Fund, with assets under management worth Rs 3,800 crores, climbed one position to the ninth. |
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| Templeton India Treasury Management Account Fund fell to the last slot from the seventh it held in April. The fund's assets grew 10 per cent to Rs 3,700 crore. |
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