Equity fund inflows fall 14 per cent to Rs 35,943 crore in Nov; AUM tops Rs 68 trillion
New Indian ExpressMUMBAI: Despite the muted market performance leading to a steep 14 per cent fall in fund flows into equity mutual funds, and a steeper 26 per cent slump in inflows to large-cap funds and the red-hot SIPs taking a break with inflows remaining flat in the month, the overall mutual funds industry added Rs 0.82 trillion to their AUM at Rs 68.08 trillion in November. In October the assets under management had stood at Rs 67.26 trillion. Both the Sensex and the Nifty closed in the red in November with Sensex losing 0.27 per cent and the Nifty shedding 0.31 per cent, on the back of incessant selling by foreign funds who have taken out more than Rs 1.5 trillion from the market during October and November. While fund flows into equity mutual funds fell over 14 per cent to Rs 35,943 crore in November from the previous month, inflows to large-cap funds slumped 26 per cent to Rs 2,547.92 crore and the inflows into the red-hot SIPs took a break and remaining flat at Rs 25,320 crore marginally down from Rs 25,323 crore in the previous month, according to the latest data released by the industry lobby Amfi Tuesday.