According to Association of Mutual Funds of India (Amfi) reports released on Monday the average Assets Under Management (AUM) of mutual funds was up to Rs25.43 lakh cr in May from Rs25.27 lakh cr in the previous month on the back of increased inflows into equity-linked schemes.
However, Fixed Maturity Plans (FMP) witnessed outflow for the second straight month in May as investors pulled out Rs1,797cr from the schemes, amid many Non-banking finance companies grappling with debt woes.
Systematic Investment Plans (SIPs) declined to Rs8,183cr in May from Rs8,238cr in April.
Equity mutual funds witnessed a rise of 17.33% in inflows to Rs5,407cr in May compared to Rs4,608.74cr seen in April. Data from the Amfi showed that overall net outflow in close-ended debt oriented schemes stood at Rs2,001cr in May.
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