Mutual Fund houses which saw their asset under management fall by nearly 18% in month of October are getting ready for another round of redemption which could see an outflow of Rs 360 billion from their corpuses, reports Business Standard.
About 720 schemes which are going to mature by March 2009, will witness an outflow of over Rs 360 billion. Many debt schemes such as fixed maturity plans (FMPs), quarterly and monthly interval plans, fixed horizon plans and money market-related schemes are set to mature during the coming months.
In December itself, there will be an redemption as a result of maturity of debt and money market schemes which will amount to around Rs 150 billion, while redemption in January will be to the tune of Rs 60 billion. February may see the largest round of redemption, with around Rs 130 billion flowing out of the mutual fund industry, mainly from the maturing quarterly interval plans launched in November.
No comments:
Post a Comment