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Inflows into equity and equity-oriented schemes halved in the month of April 2020 to Rs 6,212 crore from Rs 11,722 crore in March 2020, according to monthly data provided by the Association of Mutual Funds of India (Amfi).

This redemption pressure in equity funds comes at a time when the benchmark indices in India have been taking the beating of the global pandemic. Both Sensex and Nifty have fallen at least 23% this year having recovered a bit in the past month.

Outflows from ELSS schemes have also halved to Rs 5.22 crore in April from Rs 11.72 crore in March 2020.

Debt funds, however, saw some recovery in the past month. Debt funds, on the whole, saw outflows of Rs 1.94 lakh crore in March which improved to inflows worth Rs 43,431 crore. This, in another press release, Amfi attributed to RBI’s recent liquidity support for the mutual fund industry after Franklin Templeton India announced the closure of six of its debt funds.

Also Read: RBI Extends Liquidity Support of Rs 50,000 Crores for Mutual Funds

Within equity funds, multi- and mid-cap funds saw the most redemption pressure. Here’s a snapshot of the top five categories under equity funds and how have they performed in April 2020 over March 2020.

Inflows Into Equity Schemes

Sr. No.CategoryApril 2020 (in Rs crores)March 2020 (In Rs crores)
1Multi Cap1,2402,268
2Large Cap1,6912,060
3Large and Mid Cap346859
4Mid Cap4971,233
5Small Cap384162

Within debt funds, there is record improvement in many categories. Namely, liquid funds have seen inflows of ₹68,848 crores in the month of April, up from outflows of ₹1.1 lakh crore in March. Other categories like ultra short term duration fund, short-duration fund among a few other categories continue to record outflows but lower.

Here are details for a few of the debt fund categories.

Inflows Into Debt Schemes

Sr. No.CategoryApril 2020 (in Rs crores)March 2020 (In Rs crores)
1Liquid Fund68,848.01-110,037.06
2Ultra Short Duration Fund-3,419.32-29,052.98
3Low Duration Fund-6,841.07-19,921.13
4Short Duration Fund-2,309.05-11,038.53
5Dynamic Bond Fund-1,155.11-833.06
6Corporate Bond Fund4,168.92-3,791.01
7Credit Risk Fund-19,238.98-5,568.79

‘’In the prevailing scenario of low inflation, expected softer interest rate regime, MF industry would see heightened interest in fixed income schemes, especially low duration schemes,’’ Mr. Venkatesh said.

Retail assets under management have risen from the previous month. Assets under management are the total number of assets controlled by a mutual fund. Higher AUMs indicate better investment flow, quality, and management experience on behalf of the fund house. Higher AUMs give higher bandwidth to the fund managers to react to market conditions and change the asset allocation of the fund.

AMFI also publishes the average AUM of all AMCs on a quarterly basis.

 

Average Assets under Management (AAUM) for the quarter of January – March 2020 (Rs in Lakhs)
Sr NoMutual Fund NameAverage AUM
Excluding Fund of

Funds – Domestic but

including Fund of

Funds – Overseas

Fund Of Funds – Domestic
1Aditya Birla Sun Life Mutual Fund24752167.9823540.10
2Axis Mutual Fund13840162.0010752.30
3Baroda Mutual Fund1180853.100
4BNP Paribas Mutual Fund764731.410
5BOI AXA Mutual Fund227075.830
6Canara Robeco Mutual Fund1794244.570.00
7DSP Mutual Fund8042159.280
8Edelweiss Mutual Fund2447157.5077856.87
9Essel Mutual Fund76307.480
10Franklin Templeton Mutual Fund11632279.83111988.21
11HDFC Mutual Fund36978279.6433050.70
12HSBC Mutual Fund1132731.0231510.94
13ICICI Prudential Mutual Fund35074348.87739809.44
14IDBI Mutual Fund503092.933383.48
15IDFC Mutual Fund10391179.3720114.46
16IIFCL Mutual Fund (IDF)57103.830
17IIFL Mutual Fund183244.320
18IL&FS Mutual Fund (IDF)183114.910
19Indiabulls Mutual Fund154959.390
20Invesco Mutual Fund2566449.711855.90
21ITI Mutual Fund52680.250
22JM Financial Mutual Fund610927.020
23Kotak Mahindra Mutual Fund18608847.2728335.16
24L&T Mutual Fund7105578.830
25LIC Mutual Fund1660540.760
26Mahindra Mutual Fund539627.320
27Mirae Asset Mutual Fund4320030.690
28Motilal Oswal Mutual Fund1995653.3622754.03
29Nippon India Mutual Fund20488371.7283637.64
30PGIM India Mutual Fund433528.540
31PPFAS Mutual Fund313764.320
32Principal Mutual Fund640340.970
33quant Mutual Fund24855.520
34Quantum Mutual Fund136163.018279.52
35Sahara Mutual Fund4648.420
36SBI Mutual Fund37353660.8143170.71
37Shriram Mutual Fund18227.730
38SREI Mutual Fund (IDF)00
39Sundaram Mutual Fund3137680.800
40Tata Mutual Fund5314902.660
41Taurus Mutual Fund41852.190
42Trust Mutual Fund00
43Union Mutual Fund407548.640
44UTI Mutual Fund15151252.870
45YES Mutual Fund25252.490
Grand Total270367579.161240039.46

Net Assets Under Management

Net Assets Under Management as on March 31, 2020 (in Rs crores)Net Assets Under Management as on April 30, 2020 (in Rs crores)
Equity schemes578,507.69660,070.27
Debt schemes1,029,141.701,074,741.28 

New Schemes

This month saw three new schemes being launched in April 2020 in the exchange-traded fund (ETF) category: L&T Nifty 50 Index Fund, L&T Nifty Next 50 Index Fund, and Motilal Oswal S & P 500 Index Fund.

SIP Update

According to Amfi data, the number of SIP accounts has risen to 3.13 crore accounts from 3.11 crore accounts as of March 2020. SIP contribution for April 2020, however, dropped to Rs 8,376.11 crore as compared to 8,641.20 crores as of March 2020.

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