Debt fund schemes bleed in June, see net outflows of Rs 92,247 cr; Overnight funds, underperforming

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Income- or debt-oriented mutual fund schemes saw net outflows of Rs 92,247.63 cr in June, according to data released by the Association of Mutual Funds in India (AMFI). The worst performing category was the Overnight Fund category, with net outflows of Rs 20,668.07 cr. It was followed by Liquid Fund and Ultra Short Duration Fund which recorded net outflows of Rs 15,782.64 and Rs 10,057.99 respectively.

With the exception of the Gilt Fund with a constant duration of 10 years and the Long Duration Fund, the rout was seen in most categories, according to AMFI data. Net inflows in the former amounted to Rs 220.69 cr while in the latter they were at Rs 36.65 cr.

Net outflows of Rs 92,247.63 cr were seen in 312 programs across 16 categories, according to the data.

Other categories of debt funds where large outflows were observed included short duration funds (-8,532.35 cr), money market funds (-8,126.12) and floating funds (-7,077, 94 cr).

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The Net Assets Under Management (AUM) as of June 30 stood at Rs 12,34,073.78 cr while the redemption/repayment for the period stood at Rs 9,59,507.47 cr. The number of folios for the past month stood at Rs 72,69,631 cr.

The above data relates to open-end mutual fund plans.

As for closed schemes, net inflows for June amounted to Rs 16,610.99 cr. The lion’s share was accounted for by fixed-term schemes with net inflows of Rs 13,773.94 cr. It was followed by the Infrastructure Debt Fund program with net inflows of Rs 2035 cr.

Meanwhile, growth or equity oriented schemes saw a steady inflow of Rs 15,497.76 cr during the month. Flexi Cap funds emerged as the big winner in this segment with net inflows of Rs 2511.74 cr. It was followed by Large Cap Fund (2,511.74 cr) and Large & Mid Cap Fund (1,994.73 cr).

No new program was launched during the month.

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