Mutual fund (MF) inflows (net) in September 1999 have declined to Rs 2.4 bn from Rs 14.7 bn in August 1999. This was revealed by the Association of Mutual Funds in India (AMFI).

This marks the third consecutive month of lower net inflows, although there is no letup in total inflows, which have grown consistently to Rs 854.9 bn (as on September 30, 1999).

In September 1999, the Unit Trust of India (UTI) seems has witnessed net outflow of Rs 1.8 bn, while bank-sponsored funds and institution-sponsored funds also recorded net outflows of Rs 330 m and Rs 570 m respectively.

However, pre-dominantly Indian-owned joint venture funds (Rs 1.5 net inflows) and pre-dominantly foreign-owned funds (Rs 3.2 bn net inflows) are still on a roll, and have been responsible for propping up MF inflows in September. Private sector MFs as a whole witnessed inflows of Rs 5 bn.

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