IGI Logo

Contents

• Monthly Net Fund flows

• NFO Sales for the month

• SIP Flows & Trends

• YTD Net Fund Flows

• AUM Snapshot

• AUM Change adjusted for fund flows (Market Gains / Loss)

• Folios Insights

• AUM per Folio (Ticket size)

Monthly Net Fund flow highlights – Apr 2024 (Amount in Rs.)

Industry cherished net inflows of 2.39 lakh crs, a 5+ Year high. Open-ended schemes saw net inflows. Close-ended Equity & Debt funds reported net outflows.

• Equity funds had inflows of 18888 crs, down -20% from 3M avg flows. Gross purchases were up 2.2% from 3M avg and redemptions spiked by 19.7% from 3M avg. o Top inflows: Sector/Thematic funds continued to lead the set with inflows of 5166 crs, 5th best in 3 & 5 Yrs, but down -35% from 3M avg ; Multicap flows were at 2724 crs, up 12.2% from 3M avg ; Large & Midcap had inflows of 2639 crs, 4th best in 5+ Yrs, but down -9% from 3M avg. Smallcap reverted to net inflows of 2209 crs, up 9% from 3M avg. o Outflows: ELSS funds saw outflows of -144 crs, turned O/f from 3M avg I/f ; Focused funds -328 crs, O/f up 47% from 3M avg. Close-ended equity -29 crs, down -66% from 3M avg outflows. o SEBI directed AMCs to publish stress test results of Mid & Smallcap funds in Feb’23.

• Debt funds made a comeback with inflows of 1.89 lakh crs, best in 5+ Yrs. Debt, ex-Liq & O/n too had net inflows at 65389 crs, 4th best in 5+ yrs, turning I/f from 3M avg O/f. o Top inflows: Liquid funds made a customary quarter start inflows of 1.03 lakh crs, best in 5+ yrs ; Money market got 34084 crs, a 5+ yr best ; Overnight 21195 crs, 4th best in 5+ yrs. o Outflows: Medium duration shown most outflows at -425 crs, a 5 yr low, up 32% from 3M avg o/f ; Banking & PSU -405 crs, up 62% from 3M avg o/f ; Credit Risk -359 crs, up 9% from 3M avg o/f. Close-ended debt -554 crs, down -29% from 3M avg

• Hybrid Funds garnered net inflows of 19863 crs, 2nd best in 5+ yrs. o Top inflows: Arbitrage saw inflows of 13901 crs, 2nd best in 5+ yrs, up 91% from 3M avg ; Multi Asset 3313 crs, 4th best in 5+ yrs, but down -28% from 3M avg. o Outflows: Conservative hybrid outflows were -8 crs, down -56% from 3M avg.

• Solution Funds received net inflows of 247 crs, near 3 & 5 Yr highs. o Retirement received 177 crs, up 30.5% from 3M avg, helped by a NFO ; Children’s fund 70 crs, down -9% from 3M avg.

• Other Funds saw net inflows of 11505 crs, up 30% from 3M avg. o Top inflows: Index funds got 6524 crs, up 166% from 3M avg ; Other ETFs 5747 crs, down -2% from 3M avg. o Outflows: Overseas FoF -370 crs, near 5 yr lows ; Gold ETF -396 crs, near 5 yr lows, first outflow in 13 mths. NFO Sales: 1532 crs, across 9 schemes, down -80% from 3M avg. NFO Collection Mix: 79.6% from 2 Equity funds ; 17.6% from 6 Index funds ; rest from other schemes. Total no. of schemes stood at 1545 (OE: 1426 ; CE: 119). YoY, number of open ended schemes went up by 141 or 11.0%, with more NFOs in offering. Close ended schemes were down -48, with more maturity driven closures and lack of fresh offerings overall. Category-wise YoY O.E scheme chg: Equity up 52 schemes (nearly 34 from Sector / Theme) ; Multi Asset 12 ; Index 32 ; Other ETFs 29 ; Overseas FoF 5.

Markets in Apr-2024:

• Indian Equity Markets rebounded in Apr’24, with Mid-Smallcaps outperforming the Largecaps and Bluechip index sets.

• Nifty Microcap 250 jumped by 10.6%, Nifty Smallcap 250 gained 10.5%, Nifty Next-50 was up 7.1%, Nifty Midcap 150 was up 6.4%, Nifty 50 was up 1.2%.

• SEBI mandated stress test results were published by Mid-March, for Mid and Smallcap funds, when this universe declined and staged a recovery in April.

• As of month end, % gap from their 52 week highs: All were at or near their 52 week highs.

• Gold continued with it’s shine, gaining 7.5%, like last month.

• Silver extended it’s glitter rising around 8%

• 10-Yr Benchmark G-Sec yields hardened by 15 basis points to 7.2 levels. Yields were down 15 basis points over 6 months and up 8 basis points, from a year ago.

• Rupee stretched it’s depreciation against a greenback by 0.2% to close at 83.5 levels. Rupee was down 0.3% over the past 6 months and by 2.1% over the past year. Rupee breached 83 to a greenback during the 3rd week of Aug’23. It crossed the psychological 80 mark in Aug’22.