Overall inflow numbers should be fairly strong for the month, said Sunil Subramaniam, managing director and chief executive officer, Sundaram Mutual Fund.
In an interview to CNBC-TV18’s Prashant Nair and Ekta Batra, Subramaniam said that industry is launching a huge amount of new fund offers (NFOs), both close ended and open ended and the collections have been very healthy.
According to Subramaniam, close ended NFOs are getting anywhere between Rs 200 crore and Rs 300 crore each, and open ended are getting upwards of Rs 3,000 crore each for this month.
Speaking about the monsoon, Subramaniam said that 95 percent rainfall is a pretty good number and we cannot call it drought or any shortage.
He said that overflowing rivers is a good news as it will play a major role in irrigation and government can support agriculture by controlling the water.