SBI Mutual Fund, Kotak Mutual Fund, and Nippon India Mutual Fund witnessed the highest inflows in the second quarter of the financial year, according to a Morningstar report. Aditya Birla Sun Life Mutual Fund, IDFC Mutual Fund, and Franklin Templeton Mutual Fund witnessed largest outflows during the period.
SBI Mutual Fund saw inflows of Rs 39,282 crore. A significant part of the net inflow in SBI Mutual Fund was due to its NFOs of SBI Balanced Advantage Fund and a couple of equity ETFs. Kotak Mutual Fund witnessed inflows of Rs 20,649 crore in the same period. Nippon India Mutual Fund garnered Rs 13,290 crore.
Fund houses that saw the highest net outflows were Aditya Birla Sun Life with Rs 3,453 crore, IDFC with Rs 3,119 crore, and Franklin Templeton with Rs 2,123 crore.
The second quarter of fiscal-year 2021-22 saw the new fund offerings of a total of 32 open-end funds (including ETFs) and 11 closed-end funds. Cumulatively, these funds mopped up around Rs 49,283 crore.
Among ETFs, SBI Mutual Fund received the highest flows during the quarter ended September 2021, with net inflows of Rs 11,938 crore, followed by UTI and Nippon India, which received Rs 3,702 crore and Rs 3,339 crore, respectively.
The report also said Axis Bluechip, Canara Robeco Bluechip Equity and Mirae Asset Large Cap Fund continue to be the highest recipients of inflows. They garnered net inflows worth Rs 1,518 crore, Rs 1,019 crore, and Rs 631 crore, respectively, in second-quarter of fiscal-year 2021-22. On the other hand, funds that saw the highest outflows in second-quarter of fiscal-year 2021-22 were HDFC Top 100, Aditya Birla Sunlife Frontline Equity and ICICI Prudential Bluechip.
In the mid cap segment, the funds that received the highest net inflows in second-quarter of 2021-22 were Kotak Emerging Equity Fund (Rs 922 crores); Axis Midcap (Rs 879 crores); and PGIM India Midcap Opps Fund (Rs 775 crores). However, with net outflows of Rs 734 crores, HDFC Midcap Opportunities Fund recorded the highest net outflows during the quarter. This was followed by Franklin India Prima fund and L&T Midcap, which lost Rs 387 crores and Rs 300 crores, respectively.
PGIM India Small Cap, with net inflows of Rs 910 crores; Axis Small Cap, with net inflows of Rs 541 crores; and Kotak Small Cap, with net inflows of Rs 513 crores, were the biggest beneficiaries in the second quarter of fiscal-year 2021-22. The net inflows into PGIM India Small Cap were done during its NFO stage as the fund was launched in July 2021. During the same quarterly period, Franklin India Smaller Companies Fund witnessed the highest net outflows of Rs 461 crores—followed by HDFC Small Cap and L&T Emerging Business, which saw around Rs 444 crores and Rs 255 crores eroded respectively.
Assets under management of open-ended funds stood at Rs 36,09,242 crores as of September 2021 up by 10% compared to the last quarter June 2021 and up 43% compared to September 2020. Some mutual fund houses have scored over others in terms of inflows in FY 21-22, shows the Morningstar India report.