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The last month of 2020 saw money flowing out of both categories: open-ended equity and debt schemes. While open-ended debt funds witnessed reduced inflows, the outflows in equity funds continued but reduced from November. In terms of average net assets under management (AUM), both open-ended equity and debt schemes improved from November. According to the Association of Mutual Funds of India (Amfi), the mutual fund industry AUMs are at an all-time high.

Read on to find out more on Amfi’s December report on the mutual funds industry.

Folios

What are folios: A folio number is a unique number allotted to each mutual fund investor. When an investor purchases a fund, a folio number is assigned by the mutual fund company. There is no restriction on the number of folios as an investor can have different folio numbers for different funds.

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Open-ended Equity Schemes Folios (in crores)
December 6.37
November 6.35

There was an increase of 2.04 lakh folios in December over November for open-ended equity schemes.

Open-ended Debt Schemes Folios (in lakhs)
December 80.73
November 78.01

Open-ended debt schemes added 2.72 lakh folios in December over November.

Inflows

Equity Oriented Open-Ended Schemes

The net outflows from open-ended equity schemes showed slight improvement and fell to Rs 10,147.12 crores from outflows worth Rs 12,917.36 crores in November 2020. 

The outflows from large-cap funds continued to rise in December 2020, as a result of which, the category saw the highest outflows for the second straight month in December. Large-cap funds saw an outflow of Rs 3,876.39 crores as against outflows worth Rs 3,289.18 crores in November 2020.

Sectoral/thematic funds category is the only sub-category that has recorded inflows ( in December 2020. The inflows were worth Rs 3,412.08 crores as against outflows of Rs 987.66 crores.

In November, all sub-categories of open-ended equity schemes had recorded outflows. Interestingly, in December there were five new sectoral/thematic funds that were launched, the highest ever recorded by the category in any month of 2020.

Scheme Name Net Inflow (+ve)/Outflow (-ve) for the month of December 2020
Open ended Schemes (In Rs crores)
Growth/Equity Oriented Schemes
Multi Cap Fund -3,540.77
Large Cap Fund -3,876.39
Large & Mid Cap Fund -1,288.74
Mid Cap Fund -1,635.80
Small Cap Fund -696.44
Dividend Yield Fund 1,490.15
Value Fund/Contra Fund -1,640.92
Focused Fund -1,095.38
Sectoral/Thematic Funds 3,412.08
ELSS -1,274.91

Open-Ended Debt Schemes

The inflows into open-ended debt schemes category in December more than halved from the month before that. Inflows into this category were worth Rs 13,862.77 crores, at least 69% lower than Rs 44,983.84 crores in November. 

The sub-category that suffered the most was money market funds, recording an outflow of Rs 11,896.17 crores versus inflows of Rs 2,988.39 crores in November. Corporate bond funds saw the highest inflows: Rs 8,609.77 crores.

Scheme Name Net Inflow (+ve)/Outflow (-ve) for the month of December 2020
Open-ended Schemes (In Rs crores)
Income/Debt Oriented Schemes
Overnight Fund 7,410.23
Liquid Fund 5,102.22
Ultra Short Duration Fund -5,102.45
Low Duration Fund -1,467.61
Money Market Fund -11,896.17
Short Duration Fund 3,953.73
Long Duration Fund 39.59
Corporate Bond Fund 8,609.77
Credit Risk Fund -190.36
Banking and PSU Fund 2,071.79

What is meant by mutual fund inflows and outflows?

Simply put, inflows means how much money has been invested in a particular category and outflows means how much has been pulled out. 

AUM

Assets under management or AUM refers to the total market value of all the assets being managed by a mutual fund. For example, assets in an equity fund are mostly the stocks it has and also a small proportion of cash.  The number fluctuates regularly depending on the money flowing in and out of the fund and the price of the assets held by it.

Average Net AUM (In lakh crores)
Open-Ended Debt Schemes
December 14.23
November 14.02
Open-Ended Equity Schemes
December 8.87
November 8.30

SIP

The number of SIP accounts continued to rise sequentially. The total number of SIP accounts as on December 31, 2020 stood at 3.47 crores, up from 3.4 crores at the end of November.

However, SIP contributions rose from the previous month. 

Here’s a table summarising SIP contributions through the year

SIP Contributions (in Rs Crores)
December* 8,418
November* 7,302
October 7,800
September 7,788
August 7,792
July 7,831
Jun 7,917
May 8,123
April 8,376
March 8,641
February 8,513
January 8,532
*Please note that since the last three days of November 2020 were non-business days, the SIP contribution for Dec 2020 includes the SIP contribution that was due on those 3 days.

New Schemes

December saw the highest number of new schemes launched than any other month. Below is a summary of all the new schemes that were launched in December:

NEW SCHEMES LAUNCHED :
Open End Schemes
A. Income/Debt Oriented Schemes
Banking and PSU Fund Baroda Banking and PSU Bond Fund
B. Growth/ Equity Oriented Schemes
Large Cap Fund ITI Large Cap Fund
Small Cap Fund UTI Small Cap Fund
Dividend Yield Fund HDFC Dividend Yield Fund
Value Fund DSP Value Fund
Sectoral/Thematic Funds Aditya Birla Sun Life ESG Fund
Axis Special Situations Fund
ICICI Prudential Quant Fund
Kotak ESG Opportunities Fund
Mirae Asset Banking and Financial Services Fund
C. Hybrid Schemes
Aggressive Hybrid Fund Union Hybrid Equity Fund
D. Other Schemes
Other ETFs Motilal Oswal 5 Year G-SEC ETF
Fund of funds investing overseas Invesco India – Invesco Global Consumer Trends Fund of Fund; Kotak International REIT FOF

Happy Investing!

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