Investments in MF schemes up 60% in July
Investors put in over Rs 38,000 crore into Mutual Fund schemes in July, a sharp increase of 60% over the preceding month.
"During July 2012, mutual funds mobilised Rs 38,457 crore as compared to Rs 23,968 crore liquidated during June 2012," according to information available with capital market regulator Sebi.
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Mutual Funds pool together money from many investors and invest it on behalf of the group, in accordance with a stated set of objectives.
Most of the funds were mobilised through private sector in July.
Mutual Funds garnered Rs 27,500 crore through the private sector and Rs 10,957 crore from the public sector.
The market value of assets under management stood at Rs 7.30 lakh crore in July, compared to Rs 6.88 lakh crore at the end of June indicating an increase of 6%.
Overall, Mutual Funds have garnered Rs 1.33 lakh crore in the 2012-13 fiscal so far, compared to Rs 1.24 lakh crore mobilised during the corresponding period in 2011-12.
During the period under review, mutual funds were bullish on the debt market and poured in Rs 2,985 crore, while they pulled out Rs 1,988 crore from the equity market - leaving behind a net investment of Rs 997 crore in the secondary market.
"During July 2012, Mutual Funds made net investment of Rs 997 crore in the secondary market as compared to Rs 78,761 crore in June 2012," Sebi said.