After one way rally on D-Street so far in the year 2017 retail investors preferred to book some profits off the table from Gold ETFs, liquid funds etc. as the asset under management (AUM) of the mutual fund industry dipped slightly for the month of June.The total AUM of the mutual fund industry marginally decreased by 0.4 percent or Rs 7,684 crore to Rs 18.66 lakh crore in June 2017.
There were certain categories of funds saw an increase which includes themes like balanced, ELSS, equity, GILT, infrastructure debt & other ETF’s while 4 categories witnessed decline which includes themes like FOF Overseas, Income, Gold ETF’s & Liquid Fund.However, on a quarter-on-quarter (QoQ) basis, total AUM of Mutual Fund Industry increased by 8.1 percent (March 17- June 17).They bought equities in 21 trading session worth Rs 9,106 crore, as against net buying of Rs 9,357 crore in May 2017. Mutual funds were net buyers in equity in 20 trading sessions and net sellers in 1 sessions, said an IDBI Capital report.
AU Finance which rose over 50 percent on the listing day itself managed to impress fund managers as funds across AMCs such as Birla, BNP, DSP, ICICI, IDFC, Kotak, MOSt, Reliance, SBI Sundaram, and UTI added the stocks in their funds. Total investment by fund managers in AU Finance was nearly Rs 190 crores, said the IDBI Capital report.
The foreign institutional investors (FII) were also net buyers in equities for the month of June 2017. FII were net buyers in equities in 21 trading session worth Rs 3,939 crore compared to net buying of Rs 9,956 crore in May 2017.
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