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

Industry roped in net inflows of 60295 crs, down -34.7% from near 3 mth avg. Open-ended Equity, Debt, Hybrid, Solution, Other schemes saw net inflows. Close-ended Equity & Debt funds reported net outflows.

* Equity fund inflows stayed steady at 35927 crs, 5 th best in 5+ yrs, albeit down -5.8% from 3 mth avg. Gross purchases were down by -15.7% from 3M avg and redemptions were down -26.3% from 3M avg, in a month when equity markets remained highly volatile.

* Top Inflows: Sector/Thematic funds extended the top slot, with inflows of 7658 crs, but down -47% from 3M avg, with nearly 36% coming from 3 NFOs ; Flexicap funds saw inflows of 5084 crs, 3 rd best in 60+M ; Midcap inflows were at 4883 crs, best in 5+ Yrs.

* Major Outflows: Close-ended equity -16 crs, down -35% from 3M avg O/f.

* Debt funds reported inflows at 12864 crs, down -56% from 3M avg. Debt, ex-Liq & O/n too reported net inflows at 12623 crs, down -10% from 3M avg. 10 Yr G=Sec Yields went down 9 basis pts MoM by end Nov ’24.

* Top Inflows: Low dur funds 4374 crs, 5 th best in 3+ yrs ; Ultra short dur 2962 crs, up 505% from 3M avg ; Money mkt 2426 crs, down -39% from 3M avg.

* Major Outflows: Liquid funds reported most outflows at -1779 crs, turned O/f from 3M avg I/f ; Short dur -454 crs, turned O/f from 3M avg I/f ; Floater -342 crs, down -41% from 3M avg O/f. Close-ended debt -52 crs, down -25% from 3M avg O/f.

• Hybrid Funds received net inflows of 4124 crs, down -61% from 3M avg.

* Top Inflows: Multi Asset 2444 crs, down -31% from 3M avg ; Bal. Adv / Dyn AA 1570 crs, down -36% from 3M avg.

* Outflows: Arbitrage -1353 crs, turned O/f from 3M avg I/f.

* Solution Funds had net inflows of 319 crs, 6 th best in 5+ yrs.

* Retirement fund received 166 crs, 7 th best in 5+ yrs; Children’s fund 153 crs, best in 5+ yrs.

* Other Funds reported net inflows of 7061 crs, down -48.7% from 3M avg.

* Top Inflows: Index funds 4343 crs, near flat from 3M avg ; Other ETFs 1531 crs, down -80% from 3M avg ; Gold ETF 1257 crs, 5 th best in 5+ yrs.

* Outflows: Overseas FoF -69 crs, down -64% from 3M avg O/f.

NFO Sales: 4052 crs, across 18 schemes, down -65% from 3M avg.

NFO Collection Mix: 68% from 3 Sector funds ; 13% from 10 Index funds ; 9% from 1 Smallcap fund and rest from other schemes.

Total no. of schemes stood at 1666 (OE: 1552 ; CE: 114). YoY, number of open ended schemes went up by 202 or 15.0%, with more NFOs in offering. Close ended schemes were down -8, with more maturity driven closures and lack of fresh offerings overall.

Category-wise YoY O.E scheme chg: Equity up 63 schemes (45 from Sector / Theme & 5 each from Multicap and Large & Midcap) ; Multi Asset 9 ; Index 77 ; Other ETFs 39.

Markets in Nov-2024:

* Indian equities displayed mixed performance during the month that saw higher volatility, but ended range bound.

* Nifty Next 50 did well, rising 1.2%, followed by Microcaps up 1.1%.

* Midcaps, Largecaps were flat. Smallcaps were slightly down -0.1% & Nifty-50 ended negative by -0.3%.

* Gold declined by -3.5%, post few months of steady rally.

* Silver too dropped, by around -7.5%.

* 10-Yr Benchmark G-Sec yields eased back by 9 basis points to close around 6.75 levels. Yields were down 24 basis points over 6 months and down 53 basis points, from a year ago period.

* Rupee broke the psychological 84 mark in Oct’24, and further depreciated to 84.5 levels in Nov ‘24. Rupee was down by 1.4% over the past 6 months and down by 1.4% over the past year.

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