 "MF industry witnesses steep cuts in fresh allocations to equity schemes")
The mutual fund (MF) industry is witnessing a sharp drop in fresh allocations to equity schemes, which has put industry executives and advisors on tenterhooks. It has raised concerns over the impact on industry players’ top lines.
According to industry data, equity schemes mobilised Rs 13,760 crore in June, which was 28 per cent lower than the 12-month average. In May, the collection stood at Rs 12,949 crore, which was the lowest in 14 months.
“Despite the recent rebound in the markets, individual portfolios are still bleeding. Confidence has remained shaky, which has kept fresh flows away,” said Bharat Bagla, an independent
