,India

India's domestic mutual fund industry assets dipped 6% to Rs7.6t in July

It hit a 13-month low in USD terms.

According to Morgan Stanley, during July, equity funds witnessed outflows at Rs19 bn. Fixed income fund flows were also negative at Rs479bn. YTD equity funds have recorded outflows of Rs67bn, while fixed income fund have recorded inflows of Rs92bn.

During the month, liquid funds reported outflows of Rs453bn, while income funds reported outflows of Rs26bn.

At the aggregate level, the mutual fund industry witnessed outflows of Rs498bn. At the end of the month, the domestic mutual fund industry assets had fallen to Rs7.6trn – down 6% MoM. In US$ terms, they stood at US$127bn (a 13-month low) – down 8% MoM.  

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