Mutual funds industry grew in May 2021 in terms of asset management

The Association of Mutual Funds of India (AMFI) has said that local mutual funds industry grew from Rs 32.43 lakh crore in April 2021 to Rs 32.99 lakh crore in May 2021 in terms total asset under management.

According to the monthly data released by the association, fund mobilization stood at Rs 1,98,000 crore in May 2021, compared to Rs 2,50,000 crore in April 2021.

Net funds outflow was around Rs 45,000 crore, while as per the data, the equity schemes witnessed inflows of Rs 10,082 crore in May 2021, an impressive growth over April 2021, when inflows were only Rs 3,437 crore.

The data also reflected an important fact that due to the ongoing Coronavirus pandemic, liquid funds witnessed a lot of demand as need for money requirement surged due to growing hospitalisations, especially in the month of May 2021.

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