India Mutual Fund Tracker - Equity AUM Achieves Another Milestone By Scaling A New High In Feb: Motilal Oswal

Motilal Oswal Report

The Nifty managed to close in green (up 1.2% month-on-month) in February 2024 after consolidating in January 2024. Notably, the index was extremely volatile and swung around 767 points before closing 257 points higher.

In Feb-24, FIIs reported muted inflows of $0.5 billion. Domestic institutional investors recorded the seventh consecutive month of inflows at $3.1 billion.

Equity AUM for domestic MFs (including ELSS and index funds) increased 2.7% month-on-month to Rs 25.3 trillion in Feb-24, led by a rise in market indices (Nifty up 1.2% month-on-month) and an increase in sales of equity schemes (up 13.7% month-on-month to Rs 646 billion). However, the pace of redemptions increased to Rs 354 billion (up 10.2% month-on-month).

Consequently, net inflows increased to Rs 292 billion in Feb-24 from Rs 247 billion in Jan-24.

Total AUM of the MF industry continued to scale new highs and reached Rs 54.5 trillion in Feb-24 (+3.4% month-on-month), primarily led by a month-on-month rise in AUM for liquid (Rs 877 billion), equities (Rs 672 billion), other ETFs (Rs 176 billion), and balanced (Rs 131 billion) funds. Conversely, the AUM for income funds declined Rs 146 billion month-on-month.

Investors continued to park their money in mutual funds, with inflows and contributions in systematic investment plans reaching a new peak of Rs 191.9 billion in Feb-24 (up 1.9% month-on-month and 40.2% YoY).

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