Despite the continued volatility in the equity market, the inflow into the equity mutual fund schemes recorded a robust growth in September.
Total inflows into equity mutual fund schemes grew 90 percent to Rs 11,251 crore, a four-month high, shows Association of Mutual Funds of India (AMFI) data.
The total assets under management (AUM) in the equity mutual funds stood at Rs 6.63 lakh crore as September 30, 2018, the data shows.
The inflow in the exchange-traded fund was up 35 percent to Rs 2,409 crore. An exchange-traded fund is a marketable security that tracks an index.
While, the income or debt mutual funds continued to record a negative inflow, i.e. redemption was higher than fresh investments.
The income funds saw an outflow of Rs 32,504 crore during the month as compared to outflows worth Rs 6,520 crore and Rs 7,950 crore in the previous two months.
The mutual fund inflows into balanced funds witnessed a sharp 72 percent fall during the month to Rs 273 crore and the income funds.
The total asset base for the mutual fund industry, comprising 41 asset management companies (AMCs) currently operating in India, was Rs 24.3 lakh crore on an average for the July-September 2018 period, up 16 percent from Rs 20.94 lakh crore for the corresponding period in the previous year.
ICICI Prudential AMC leads the pack with average AUM of Rs 3.10 lakh crore for the September ending quarter followed by HDFC AMC (Rs 3.06 lakh crore) and Aditya Birla Sun Life AMC (Rs 2.54 lakh crore).
SBI Fund Management with an average AUM of Rs 2.54 lakh crore, claimed the fourth spot replacing Reliance Nippon Life Asset Management.