Equity MF net inflows up 54% in February

After a continuous drain of Rs7,315 crore over the past five months, equity schemes are back in the limelight

Happy days are here again for equity mutual fund (MF) schemes which saw Rs1,514 crore of net inflows in February after an outflow of Rs7,315 crore between August 2009-December 2009. During February, equity inflows jumped 54% from the Rs980 crore recorded in January.

“Markets are doing well and people believe that they will continue to do well going further. It could also be because of tax-saving schemes (ELSS) which are popular in February-March,” said Vivek Rege, chartered financial analyst (CFA) and managing director of VR Wealth Advisors Pvt Ltd.

Net inflows in equity MFs started vanishing and moved into positive territory post December which saw Rs2,185 crore of net outflows. In February, redemptions of all schemes stood at Rs7,52,798 crore.

During the same month, sales of all schemes fell 14% to Rs7,59,163 crore compared to Rs8,84,738 crore a month ago.

January saw the launch of three new open-ended equity funds like Axis Equity Fund, Fidelity India Value Fund and Sundaram BNP Paribas Select Thematic Funds—PSU Opportunities, while there were no new equity schemes launched in February. The Bombay Stock Exchange’s 30-share index, the Sensex, remained flat at 16,429 points in February from 16,357 at end-January.

Assets under management (AUM) of Equity Linked Savings Schemes (ELSS) are up by 1% at Rs22,664 crore compared to last month. ELSS schemes recorded a 25% hike in net inflows at Rs335 crore from Rs268 crore in January.

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