Mutual Fund: An Eye on Inflow in Various Categories

The third quarter of fiscal year 2023-24 witnessed 49 new fund offerings (NFO), which cumulatively collected Rs 16,093 crore during the NFO period, as per a report.

At least nine open-end schemes were launched in the sectoral category, which was the highest number, closely followed by seven in the index funds category.

In January 2024, sectoral mutual funds witnessed the biggest inflows of Rs 4,805 crore. This was followed by small-caps at Rs 3,257 crore and multi-caps at Rs 3,038 crore, as per the recent data released by the Association of Mutual Funds in India (AMFI).

The total Assets Under Management (AUM) of open-end equity funds as of December 2023 stood at Rs 21,79,424 crore, up by a sharp 14% since the last quarter. Open-end equity funds form about 43% of the total open-end fund universe.

During the quarter that ended December 2023, S&P BSE 100 TR spiked by 9.7%, and the BSE Mid-cap and BSE Small-cap saw an uptick by 13.91% and 13.61%, respectively. Over the last year, the total AUM of open-end equity funds has experienced a sharp rise of 43%, as per a report. 

Concerning weight, both the large-cap and flexi-cap categories continue to lead the AUM split with about 15% and 13.6%, respectively. This is followed by mid-cap with 13%. Cumulatively,  in the open-end equity broad category, there are 424 schemes as of December 2023. At present, with 149 schemes, the sectoral/thematic category has the highest number, followed by 42 schemes in the Equity-Linked Savings Scheme (ELSS) category and 38 schemes in the flexi-cap category.

Similarly, the assets of the index funds category have experienced a significant rise of 8% since the previous quarter and 55% over the last year. With a total of 196 schemes, the sub-category has assets of Rs 1,99,659 crore. These include both equity index funds and fixed-income index funds.

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