This inflow compares to an outflow of Rs 1.59 lakh crore in March that was seen due to the seasonal factor.
Market was expecting a likely impact in the inflows as a large number of investors faced challenges in transacting after the KYC norms were changed.
Mutual fund investors were asked to update or redo the KYC process with officially valid documents, particularly the Aadhaar.
"I think at any point in time, about 70% of investors KYC are validated, but in reality, one should be looking at the number of transactions."
Net investment into equity and equity-linked schemes declined 16% over the previous month to Rs 18,917.1 crore in April, according to data released by the Association of Mutual Funds in India on Thursday.
The mutual fund industries' net asset under management rose in April after a fall in the previous month, despite the confusion created for the industry by the new know-your-customer rules, which kicked in on April 1.
Net flows recorded an inflow of Rs 2.39 lakh crore, led by debt schemes. This inflow compares to an outflow of Rs 1.59 lakh crore in March that was seen due to the seasonal factor.
Market was expecting a likely impact in the inflows as a large number of investors faced challenges in transacting after the KYC norms were changed. Mutual fund investors were asked to update or redo the KYC process with officially valid documents, particularly the Aadhaar.
The concerns about regularising the KYC got slightly overstated, according to Aashish Somaiyaa, chief executive officer of WhiteOak Capital Asset Management. "I think at any point in time, about 70% of investors KYC are validated, but in reality, one should be looking at the number of transactions."
Throughout the month, about 97–98% of all transactions have gone through, Somaiyaa said.
Net investment into equity and equity-linked schemes declined 16% over the previous month to Rs 18,917.1 crore in April, according to data released by the Association of Mutual Funds in India on Thursday.
