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Mutual fund sales dropped to Rs 16.17 lakh crore in December 2017

Annual growth this financial year, though, has remained robust with mutual fund sales growing 22 per cent in the April-December period, over the corresponding period of the previous year.

By: ENS Economic Bureau | Mumbai | Published: January 6, 2018 1:42:09 am
Picture for representational purpose

Total sales of mutual funds (MFs) across all schemes declined to Rs 16.17 lakh crore in December 2017 from Rs 19.11 lakh crore in November 2017, a sharp 15.4 per cent reduction.

While December is usually a relatively lean month, last year the fund inflows remained steady, perhaps due to the impact of demonetisation. The total mutual fund sales across all schemes increased to Rs 14.14 lakh crore in December 2016 from Rs 13.99 lakh crore in November 2016, recording a month-on-month growth of 1.04 per cent.

Annual growth this financial year, though, has remained robust with mutual fund sales growing 22 per cent in the April-December period, over the corresponding period of the previous year. Sales in December 2017, too, recorded a 14.37 per cent growth over the corresponding month the year ago. A fund manager advised against reading too much into the monthly figures as investors may, at times, invest only for a few days and then withdraw.

“If someone invests in the last week of a month and then sells the next month, even though it will look like large money, the money would not remain in the industry,” said the fund manager. In the current financial year, the highest year-on-year growth was recorded in April, when sales grew 45.2 per cent, while June recorded the poorest growth of 2 per cent. FE

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