In the third quarter of fiscal year 2023-24, there were 49 new mutual fund offerings (NFO), which collectively amassed Rs 16,093 crore during the NFO period, as indicated by a report. Sectoral mutual funds experienced the most substantial inflows in January 2024, with Rs 4,805 crore.
This was followed by small-caps at Rs 3,257 crore and multi-caps at Rs 3,038 crore, according to recent data released by the Association of Mutual Funds in India (AMFI). The total Assets Under Management (AUM) of open-end equity funds as of December 2023 rose significantly by 14% since the last quarter, reaching Rs 21,79,424 crore. Open-end equity funds constitute about 43% of the total open-end fund universe. During the quarter ending December 2023, the S&P BSE 100 TR surged by 9.7%, while the BSE Mid-cap and BSE Small-cap witnessed upticks of 13.91% and 13.61%, respectively.
Over the past year, the total AUM of open-end equity funds experienced a sharp increase of 43%, as per a report. Regarding weightage, both the large-cap and flexi-cap categories lead the AUM split with approximately 15% and 13.6%, respectively, followed by mid-cap with 13%. In the open-end equity broad category, there are 424 schemes as of December 2023.
Currently, the sectoral/thematic category holds the highest number of schemes with 149, followed by 42 schemes in the Equity-Linked Savings Scheme (ELSS) category and 38 schemes in the flexi-cap category. Likewise, the assets of the index not mutual fund category have seen a significant increase of 8% since the previous quarter and 55% over the last year.
With a total of 196 schemes, the sub-category has assets worth Rs 1,99,659 crore, including both equity index funds and fixed-income index funds.
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