Equity MF scheme inflows see recovery in June; SBI, Birla SL, ICICI Pru AMCs gain market share

Net Inflows into equity mutual fund (MF) schemes (ex- arbitrage) witnessed some recovery in June 2019 and stood at Rs 54 billion, said a JM Financial report. This is a recovery of 160 percent month-on-month (MoM); though still lower than average monthly inflows of Rs 99 billion through FY19. Equity MF flows including arbitrage MF schemes were at Rs 86 billion in June 2019 against, Rs 66 billion in May 2019, the brokerage said. 

Debt MF schemes (ex-liquid) and liquid MF schemes saw an outflow of Rs 134 billion, against Rs 69 billion outflow in May 2019. Systematic investment plan (SIP) inflows in April 2019 remain strong at Rs 81 billion (+8% YoY). Total industry monthly average assets under management (MAAUM) stood at 25.8 trillion (+10 percent YoY) as of June 2019, with equity MF schemes contributing 42.3 percent (+107bps YoY) while debt and liquid schemes contributing 28.3 percent (minus 501bps YoY) and 23.6 percent (+190bps YoY), respectively.

"AMFI has changed its reporting format for monthly flows data from April 2019. Accordingly, we have mapped the new classification with old classification to facilitate comparison with historical data (though numbers may not be strictly comparable)," it said. 
Market shares based on Jun-19 monthly average AUM:

Equity MF schemes: Among top asset management companies (AMCs), SBI AMC has gained 59 bps market share since June 2018, while Birla SL AMC, ICICI Pru AMC, RNAM, UTI AMC and HDFC AMC have lost 71 bps, 61 bps, 59 bps, 32 bps and 6 bps of market share respectively since April 2018.

Debt MF schemes: Among top AMCs, SBI AMC, ICICI Pru AMC and HDFC AMC have gained 228 bps, 79 bps and 33 bps of market share respectively since June 2018, while RNAM, UTI AMC and Birla SL AMC have lost 350 bps, 240 bps and 38 bps of market share respectively since April 2018.