The mutual funds witnessed net inflow of Rs 7,131 crore (Rs 71.31 billion) in May 2003, with total sales and redemption/repurchases at Rs 35,922 crore (Rs 359.22 billion) and Rs 28,791 crore (Rs 287.91 billion), respectively, according to the Association of Mutual Funds in India.
The total assets under the management of all MF schemes were lower at Rs 98,124 crore (Rs 981.24 billion) (Rs 1,02,231 crore (Rs 1022.31 billion) as on May 31, 2002), AMFI said in its monthly data report released in Mumbai on Monday.
The liquid and money market schemes witnessed a net inflow of Rs 1,110 crore (Rs 11.10 billion), while AUM under these schemes as on May 31 stood at Rs 20,314 crore (Rs 203.14 billion).
Institutional MFs recorded sales of Rs 2,319 crore (Rs 23.19 billion), while redemptions were lower at Rs 1,940 crore (Rs 19.40 billion). The private sector Indian MFs witnessed sales at Rs 7,472 crore (Rs 74.72 billion), while redemptions stood at Rs 6,272 crore (Rs 62.72 billion).
The sales and redemptions for predominantly foreign joint venture MF companies were at Rs 14,888 crore (Rs 148.88 billion) and Rs 11,961 crore (Rs 119.61 billion), respectively in May, it said.
UTI MF with AUM of Rs 13,977 crore (Rs 139.77 billion) as on May 31 was the largest MF and Prudential ICICI Asset Management Company with AUM of Rs 11,606 crore (Rs 116.06 billion) occupied the second slot, according to AMFI.
Templeton AMC with AUM of Rs 10,618 crore (Rs 106.18 billion) stood at the third position, AMFI added.