A report by Morningstar India says that the total open-end AUM of the mutual fund industry stood at Rs 35,40,454 crores as of June 2022, down by 4% since the previous quarter. The industry hit its peak a couple of quarters back in the third quarter of fiscal 2021-22 when AUM totaled INR 37,11,433 crores. Since then, owing to volatile markets AUM has dropped by around 4.6%.
This report provides insights into estimated flows, asset trends, and performance for domestic funds focused on the Indian equity and debt market.
According to the report, asset-management companies that experienced the highest net inflows and outflows (open-end funds and ETFs) in the first quarter of fiscal 2022-23 were SBI Mutual Fund,
MF and MF. Surprisingly, Aditya Birla Sun Life MF and Axis MF were among the lowest on the inflow list. The report believes that, exodus of funds from the money market category, short duration and low duration among others led Aditya Birla Sunlife to be among the AMCs with the highest net outflows.
The report also revealed that, even though many ETFs have come up in various categories Large-cap ETFs continue to have the lion’s share of ETF assets under management.
Mutual Fund has the highest asset under management in the ETF categories.
The report suggests that net flows in fixed-income funds have been quite volatile. The first quarter of fiscal 2022-23 saw net outflows in fixed-income funds to the tune of Rs 70,213 crores down from Rs 1,18,010 crores witnessed in the previous quarter. This is the third consecutive quarter where there have been net outflows in the fixed-income asset class.