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India Strategy
DMF Flows (May-11): Equity
Flows Again Turn Positive
Equity funds report inflows while fixed income
funds report outflows: During May, equity funds flows
turned positive (at Rs15.9 billion) after experiencing
outflows in April. Fixed income funds, on the other hand,
reported outflows (of Rs507 billion) after receiving
near-record inflows (of Rs1850 billion) in the previous
month. Flows in liquid as well as income funds turned
negative at Rs396 billion and Rs111 billion, respectively.
In aggregate, during May, domestic mutual funds
experienced outflows (at Rs491 billion). At the end of
May, industry assets stood at US$163 billion, down 8%
MoM.
Equity funds: In 2011 thus far, inflows in equity funds
have aggregated to Rs50 billion, as compared to inflows
of Rs18.6 billion for the same period in 2010. By the end
of May, equity assets under management fell to
US$44.9 billion – down 3% MoM. The share of domestic
equity assets to market cap fell further to 2.94% – the
lowest level since August 2005.
Fixed-income funds: In 2011 thus far, inflows in fixed
income funds aggregated to Rs1108 billion, as
compared to inflows of Rs622 billion for the same period
in 2010. Year to date, both liquid and income funds
reported inflows of Rs911 billion and Rs196 billion,
respectively. At the end of May, fixed income assets
stood at US$118 billion – down 10% MoM.
Monthly Fund Tracker: At the end of May, assets of
gold funds touched an all-time high at Rs55 billion.
Year-to-date, AUM for liquid funds and gold funds are up
107% and 55%, respectively.
Sector trends: SEBI data (through April) suggest that
since the start of 2011, domestic mutual fund positions
have increased the most in Financials while decreasing
most in Industrials.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
India Strategy
DMF Flows (May-11): Equity
Flows Again Turn Positive
Equity funds report inflows while fixed income
funds report outflows: During May, equity funds flows
turned positive (at Rs15.9 billion) after experiencing
outflows in April. Fixed income funds, on the other hand,
reported outflows (of Rs507 billion) after receiving
near-record inflows (of Rs1850 billion) in the previous
month. Flows in liquid as well as income funds turned
negative at Rs396 billion and Rs111 billion, respectively.
In aggregate, during May, domestic mutual funds
experienced outflows (at Rs491 billion). At the end of
May, industry assets stood at US$163 billion, down 8%
MoM.
Equity funds: In 2011 thus far, inflows in equity funds
have aggregated to Rs50 billion, as compared to inflows
of Rs18.6 billion for the same period in 2010. By the end
of May, equity assets under management fell to
US$44.9 billion – down 3% MoM. The share of domestic
equity assets to market cap fell further to 2.94% – the
lowest level since August 2005.
Fixed-income funds: In 2011 thus far, inflows in fixed
income funds aggregated to Rs1108 billion, as
compared to inflows of Rs622 billion for the same period
in 2010. Year to date, both liquid and income funds
reported inflows of Rs911 billion and Rs196 billion,
respectively. At the end of May, fixed income assets
stood at US$118 billion – down 10% MoM.
Monthly Fund Tracker: At the end of May, assets of
gold funds touched an all-time high at Rs55 billion.
Year-to-date, AUM for liquid funds and gold funds are up
107% and 55%, respectively.
Sector trends: SEBI data (through April) suggest that
since the start of 2011, domestic mutual fund positions
have increased the most in Financials while decreasing
most in Industrials.
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