MF inflows on the rise in Feb

Mutual funds raised Rs 5,273 crore through nine new equity and nine new debt schemes in February compared with Rs 9,235 crore in January.

Equity funds continued to attract inflows in February on robust equity market while fixed maturity plans were favoured as they offer indicative returns even in a volatile debt market. Of the Rs 5,273 crore, equity funds raised Rs 3,651 crore.

Funds floated products based on various themes such as infrastructure, contra, tax-saving, and close-ended equity schemes.

Principal Mutual and Birla Mutual launched their infrastructure funds during the month. Infrastructure funds have been in limelight due to the government's continuous emphasis on the infrastructure sector, bigger infrastructure spending, huge order book positions of infrastructure companies and a growing economy.

Enthused by good responses to contra schemes when the indices are scaling new all-time highs, mutual funds took fancy to contra funds.

Chola Contra and ING Vysya ATM Fund raised Rs 136 crore and Rs 160 crore, respectively. Mutual funds also launched tax saving funds. Tata Mutual Fund and Deutsche Mutual Fund raised Rs 150 crore and Rs 30 crore, respectively.