The Reserve Bank is likely to issue guidelines on single authentication payment for small ticket transactions within a month
Equity mutual funds report a net inflow for the seventh consecutive month. However, the level of net inflows was lower than that of the past five months
Equity mutual fund sales crossed the Rs10,000 crore once again in November 2014, touching Rs10,947 crore. With redemptions amounting to Rs5,984 crore, net inflows into equity mutual funds totalled Rs4,963 crore for the month. This was the first time in six months that net inflows were below the Rs5,000 crore mark. Over the 11-month period, from January 2014 to November 2014, equity mutual funds recorded a net inflow of Rs42,907 crore. In the same period last year, the equity funds reported a net outflow of Rs11,284 crore.
New fund offers continue to bring in fresh assets. The four NFOs launched in November, brought in Rs1,014 crore. Birla Sun Life Equity Savings Fund was the open-ended equity scheme launched, grossed assets worth Rs139 crore. DSP BlackRock 3 years Close Ended Equity Fund, ICICI Prudential Growth Fund Series 4 and Sundaram Select Small Cap Series II were the close-ended schemes launched which locked in fund worth Rs875 crore.
Equity mutual funds have been reporting a steady rise in folios as well. As on 30th November 2014, the total number of equity folios reported was 30.02 million folios, 354,637 folios higher than that reported in January 2014 of 29.67 million folios.
In terms of assets under management, the total equity assets went up “5.90% or by Rs0.18 lakh crore to Rs3.15 lakh crore in November, the highest asset tally for the category on record. The underlying asset class, represented by the benchmark CNX Nifty Index, gained 3.20% in the month,” mentioned a CRISIL report. “Balanced funds, which invest a major portion of their AUM in equity, also benefited from the ongoing uptrend in the equity market as the category fetched inflows for the sixth straight month,” the report mentioned. All asset classes except for liquid funds, gold and foreign funds reported a net inflow in November.
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