Business

Inflow to equity funds slump 60 per cent to Rs 6,158 cr in January

Amid market volatility and political uncertainty, inflow to equity mutual funds plunged by 60 per cent to Rs 6,158 crore in January this year against Rs 15,390 crore seen in such schemes in the same month last year. This also marked the third consecutive monthly decline in inflows in such schemes, according to the data available with Association of Mutual Funds in India (Amfi).

The drop in inflow has pulled down the asset base of equity mutual funds (MFs) to Rs 7.73 lakh crore at the end of January this year from Rs 7.87 lakh crore in the year earlier. As per Amfi data, equity and equity-linked saving schemes saw an infusion of Rs 6,158 crore in January 2019, compared with a staggering inflow of Rs 15,390 crore seen in such schemes in January last year.


Inflow in equity funds was at Rs 6,606 crore in December, Rs 8,414 crore in November and Rs 12,622 crore in October 2018.Market players attributed the decline in inflow to volatile market and political uncertainty, wherein the broader indices remained under pressure.Overall, the mutual fund industry witnessed a net inflow of Rs 65,439 crore in January as against an inflow of Rs 1.06 lakh crore in the same month last year.The assets under management (AUM) for the industry stood at Rs 23.4 lakh crore in January this year compared to Rs 22.41 lakh crore at the end of January 2018. 

Good news for six crore EPFO subscribers, interest rates on deposits raised to 8.65%

The government has decided to increase the interest rates on the Employee Provident Fund deposits from existing 8.55 per cent to 8.65 per cent. This i...

Govt announces Rs 48,239 cr recapitalisation plan for 12 public sector banks

In order to help maintain regulatory capital requirements and finance growth plans, the finance ministry on Wednesday announced to pump in Rs 48,239 c...

Twitter strengthens political ads policy ahead of Lok Sabha Polls

Twitter on Tuesday said it would now provide details including ad spends and impressions data of tweets from political entities to users in India as i...

Anil Ambani Held in Contempt, Jail Term if Ericsson Not Paid Dues

The Supreme Court on Wednesday, 20 February, held Reliance Communications Chairperson Anil Ambani and two directors guilty of contempt of court for wi...