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Inflow in mutual fund industry drops to Rs 34,765 crore in Sep quarter
The mutual fund industry continued with the positive momentum in the September quarter, attracting Rs 34,765 crore, although it was a massive reduction as against the Rs 1.85 lakh crore inflow in the preceding quarter, primarily due to withdrawal from debt segment.
Most of the asset classes saw net inflows during the July-September period of the current financial year barring the fixed-income or debt segment, which witnessed net outflows.
Overall, flows started on a strong note during the quarter under review, with net inflows of Rs 82,467 crore in July, which dipped to Rs 16,180 crore in August and ended with a disappointing Rs 63,882 crore of net outflows in September, according to a report by Morningstar India.
"Net flows over the last few years over each quarter have been patchy. The flows seen in the June quarter were the highest in four years," it noted.
The assets under management of the industry ended at Rs 46.22 lakh crore as of September, up 5 per cent since the previous