Fixed-income mutual funds recorded heavy net outflows of Rs 1.02 lakh crore in September a reversal from the Rs 7980 crore redemption seen in the previous month largely due to substantial institutional withdrawals from liquid and money market funds. Of the 16 debt fund categories 12 reported net outflows during the month with the steepest withdrawals coming from liquid money market and ultra-short duration funds according to data from the Association of Mutual Funds in India (AMFI). This follows a strong Rs 1.07 lakh crore inflow in July indicating heightened volatility in debt fund flows over recent months. Debt MFs See Outflow  The huge outflow has pulled down the assets under management (AUM) of fixed income funds or debt funds by nearly 5 per cent to Rs 17.8 lakh crore at the end of September from Rs 18.71 lakh crore in the preceding month-end. Of the debt categories liquid fund category witnessed the steepest outflow of Rs 66042 crore and similarly money market funds saw significant redemptions of Rs 17900 crore. Further ultra-short duration funds witnessed outflow of Rs 13606 crore while low-duration funds also saw net redemptions of Rs 1253 crore. In comparison short-duration funds experienced modest outflows of Rs 2173 crore indicating a more measured response within accrual-oriented categories. These modest outflows suggest that investors remained broadly anchored to shorter-tenor accrual-oriented products even as overall liquidity tightened toward quarter-end Meshram added. In contrast overnight funds registered modest positive inflows of Rs 4279 crore as few investors temporarily parked money in these instruments amid broader redemptions elsewhere.  On the other hand equity MFs saw inflows of Rs 30421 crore in September marking a 9 per cent drop from Rs 33430 crore in August and well below Julys all-time high of Rs 42703 crore. This came as investors turned cautious amid market volatility and global uncertainties.  (With Inputs From PTI)