MFs see inflows after 3 months

8220;The month has been good for the industry as the markets supported an upside in sentiments. The Bombay Stock Exchange8217;s benchmark index, Sensex, closed at a positive note. Throughout the month though the markets were volatile, it was not acute to affect investors sentiments. Institutional investors who had shied away from the markets for some time came back and small investors continued with their resilient spirit,8221; said an MF industry expert.

HDFC MF gained Rs 3,106 crore in the month at Rs 53,858 crore while Birla MF gained 686 crore to reach Rs 38,184 crore in the month. In the month of May the industry had touched Rs 6-lakh-crore mark in average AUM but due to volatility in the market, which saw Sensex losing 3,000 points between May and August, and high redemption pressures lost Rs 56,000 crore in just three months.

5,44,317 crThe average assets under management, in rupees, of the industry for the month of August

14,686 crThe increase in the average assets under management, in rupees, of the industry over the July figure