COIMBATORE: Direct plans, which allow investors to invest in schemes directly, without using agents, are attracting huge interest. They now constitute 25% of the total assets under management (AUM) of the industry compared to 15% in January-March.
The average AUM of direct plans launched by fund houses since January this year has surged 70% quarter-on-quarter to Rs 2.14 lakh crore in April-June, estimates made by ratings agency Crisil showed. Debt-oriented MFs constitute 98% of the total AUM under direct plans. Within the debt category, liquid and ultra short-term debt funds were the highest contributors to average AUM of direct plans.
AUM of direct plans of liquid funds increased by Rs 24,400 crore to cross the Rs 1 lakh crore mark at the end of June. They constituted over 50% of the category's AUM. For ultra short-term debt funds, the AUM under direct plans rose by Rs 16,200 crore to Rs 35,900 crore during the period.
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