Indian equity mutual funds rebound in May

Indian_rupees.Flows into Indian equity mutual funds saw a resurgence in May following the re-election of Narendra Modi as prime minister. Total inflows reached INR5,410 crore ($778 million), up from INR4,160 crore in April, according to the Association of Mutual Funds in India (Amfi). Funds investing in mid- and small-cap stocks made up around half of the positive flows to mutual equity funds, contributing INR2,700 crore, Amfi’s monthly report showed. Money market and liquid funds faired worse than April, however, with INR72,500 crore coming in – down from INR96,200. Total assets under management in Indian equity mutual funds stood at INR25.43 trillion, an increase of INR16,000 crore compared to the previous month. Credit risk funds, meanwhile, saw INR4,155 crore of outflows in May, following April’s negative performance when investors pulled out INR1,253 crore from the fund type. Fixed maturity plans also saw investors pulling out INR1,796, marking the second consecutive month of outflows. ©2019 funds global asia

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