EQUITY MF REDEMPTIONS UNABATED IN JANUARY
The mutual fund industry’s average assets under management (AUM) hit an all-time high of Rs 31.84 lakh crore in January. However, the net AUM fell to Rs 30.50 lakh crore in January on profit booking from Rs 31.02 lakh crore in December, monthly data released by the Association of Mutual Funds in India (Amfi) showed.
Equity mutual funds continue to witness outflows as record gains in the equity market in January led retail investors to book profit, with equity-oriented schemes seeing outflows worth Rs 9,253.22 crore. Equitylinked savings schemes and other equity schemes also witnessed outflows worth Rs 2,940.96 crore,
The hybrid schemes witnessed net inflows worth Rs 2,141.3 crore while the debt fund category witnessed outflows worth Rs 33,408.76 crore.
Equity ETFs, index funds, gold ETFs and fund of funds investing overseas in total witnessed combined inflows worth Rs 7,966.82 crore.
"Equity-oriented mutual funds continued to witness net outflows for the seventh month in a row. The continuation of net outflows from equity funds could be attributed to profit booking/portfolio rebalancing as markets continue to touch new highs," said Himanshu Srivastava, associate director–manager research, Morningstar India.
"Though on an overall basis, the net outflow was lower than the previous month, yet in terms of absolute quantum, it continues to be on the higher side,” he said.
India’s 227 runs defeat against England in the first Test was their first after eight successive wins at home.
The last time India lost a Test in Chennai was in 1999. It was an epic encounter, which Pakistan won by 12 runs. Since then, India won five out of eight Tests here before this defeat to England.
India had lost just one home Test in their last 35 games before this one, going back to the beginning of 2013. They had won 28 games during this period.
James Anderson took 343 wickets after turning 30, which is the most for a fast bowler. He went past West Indian Courtney Walsh, who has 341. Among all bowlers, only three have more wickets after turning 30 — Sri Lanka’s Rangana Herath (398) and Muttiah Muralitharan (388), and Australia's Shane Warne (386), while India's Anil Kumble has 343 as well.