Tuesday’s stock market meltdown shaves off Rs 1.4 trillion of MF AUM | Stock Market Today

The sell-off in the equity market on the election result day on Tuesday led to a 5.5 per cent decline in assets under management (AUM) of active equity schemes. The AUM, which stood at Rs 25.3 trillion on Monday, declined by Rs 1.4 trillion on Tuesday to Rs 23.9 trillion, shows data from the Association of Mutual Funds in India (Amfi).

The AUMs have recovered partially with the benchmark indices bouncing back 4 per cent in the past two trading sessions. Smallcap funds recorded one of the lowest declines in AUM among active MF schemes at 5.2 per cent despite the smallcap indices seeing the sharpest correction compared to other marketcap based indices. The Nifty Smallcap 100 declined 8.2 per cent on Monday compared to a 7.9 per cent fall in Nifty Midcap 100 and 5.9 per cent slump in Nifty 50.