Mutual funds have mobilised Rs 9,439 crore during August, while redemptions were to the tune of Rs 8,193 crore -- leaving the sector with a net inflow of Rs 1,246 crore.
The cumulative mobilisation for the current fiscal now stands at Rs 44,093 crore as at the end of August, while redemptions were at Rs 32,363 crore. Net assets under management of mutual funds were at Rs 38,415 crore.
Unit Trust of India, the country's largest mutual fund, could mobilise only Rs 167 crore during the year against Rs 633 crore redemptions in the previous year. Total assets under management of the trust stood at Rs 53,055 crore at the end of August, according to figures released by the Association of Mutual Funds of India.
Continuing the trend set in July, in August also liquid and money market schemes mobilised Rs 6,054 crore, while income funds garnered Rs 3,588 crore. Government security funds also managed to collect a modest Rs 664 crore -- the remaining falling to the share of growth and balanced funds. The downtrend in the stock markets has had every one shunning equities, which is reflected in mutual fund mobilisations.
Redemptions and repurchases in income schemes during the month amounted to Rs 2,202 crore, while from money market and liquid schemes it was Rs 6,611 crore -- leaving these types of schemes with a net inflow of Rs 1,386 crore and Rs 557 crore, respectively.
Government paper funds also saw a redemption level of Rs 411 crore -- leading to a net inflow of Rs 253 crore. Interestingly, growth funds also saw low redemptions of Rs 87 crore during the month.
At the end of August, income funds had the maximum assets under management at Rs 56,200 crore, while balanced funds came next with funds under management to the tune of Rs 17,891 crore and growth funds with Rs 11,840 crore.
