Several fund houses
reported a decline in their assets
under management (AUM) during the month of September. Huge outflows from certain debt schemes
and correction in stock prices
impacted assets, say industry players.
While the overall AUM declined one per cent in September over the previous month, several fund houses
witnessed a much bigger dent.
Industry players say while the stock market corrected, the losses were offset by huge retail inflows into equity schemes. The decline in AUM was largely on account of redemptions in debt schemes, particularly income and money-market schemes.
that garner large assets
in their short-term-focused funds saw high redemptions. Industry players say this is a regular phenomenon at the end of every quarter.
The income funds offered by debt mutual funds had net outflows of over Rs 50,000 crore in September. The liquid and money market
schemes saw net inflows of just Rs 4,833 crore compared with Rs 21,352 crore in the previous month.