MFs garner Rs 1.2 lakh cr from investors in Apr-Dec
Investors have put in more than Rs 1.2 lakh crore in various mutual funds in first nine months of the ongoing financial year compared to cumulative net outflow of nearly Rs 80,000 crore in last two financial years.
New Delhi: Investors have put in more than Rs 1.2 lakh crore in various mutual funds in first nine months of the ongoing financial year compared to cumulative net outflow of nearly Rs 80,000 crore in last two financial years.
There was a net inflow of Rs 1,20,269 crore between April and December 2012, against outflows of Rs 28,602 crore in the entire fiscal 2011-12 and Rs 49,406 crore during 2010-11, the Economic Survey said.
Prior to that, mutual funds had mobilised Rs 83,000 crore in 2009-10. "After two years of redemption pressures, mutual funds (MF) mobilised Rs 1,20,269 crore from the market in 2012-13," the Survey tabled in Parliament said.
This significant level of fund mobilisation has also helped the total assets under management of mutual funds to grow to Rs 7.59 lakh crore as on December 31, 2012 compared to Rs 5.87 lakh crore as on March 31 2012, an increase of 29.4 percent.
Mutual funds pool together money from many investors and invest it on their behalf, in accordance with a stated set of objectives.
In the current fiscal (April-December 2012), a total of Rs 1 lakh crore were mobilised through private sector, Rs 10617 crore via UTI and inflows of Rs 10,617 crore were seen through the public sector, it added.