Direct data was indeed incorrectNo. of comments:18 Vijay Venkatram, Mumbai, WealthForum On 19-Feb-2013
ET had carried a story on 14th Feb titled "Direct plans garner 56% of total inflows in January", which we had included in our Industry News section. On the same day, we alerted our readers that the data in ET's article was perhaps inaccurate and that some large AMCs have taken up the matter with ET. We also suggested that ET would perhaps issue a corrigendum, after doing more homework. This has now happened - ET has issued the following corrigendum on the data inaccuracy : " "Data showing the corpus of AMCs in the table "Making Waves - Investments in Direct Plans" published in the ET edition dated February 14 was erroneous. The data, provided by Accord Fintech, was for large liquid funds, including fund inflows from direct and indirect plans and not just direct plans as mentioned. The error is regretted." The crux of the issue is that when arriving at that 56% number, total inflows into liquid funds - direct plans as well as regular plans was taken as inflows into direct plans, which grossly distorted the percentage. We are happy that ET has issued the corrigendum and set right the inadvertent error that its reporter made.