January 10, 2014 / 8:24 AM / 4 years ago

December inflows in equity funds highest in over two years

Reuters Market Eye - India’s equity mutual funds witnessed the highest monthly inflows in more than two years in December, helped by new fund launches coupled with higher equity allocation as markets recovered in the back half of the year.

A grocery shop owner counts rupees notes in Ahmedabad May 23, 2012. REUTERS/Amit Dave/Files

Equity funds had net inflows of 10.59 billion rupees last month, the highest since September 2011, when 14.01 billion rupees were invested in such funds, according to data from the Association of Mutual Funds in India (AMFI)

For the full year, equity funds had net redemptions of 87.08 billion rupees, taking the total outflows for last four years to 496.03 billion rupees as the industry struggles amid low investor confidence in the aftermath of the 2008 recession.

Debt funds had net outflows of 89.54 billion rupees in December as investors pulled out on growing uncertainty about the central bank’s monetary policy action.

Reporting by Himank Sharma

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