Inflows in equity schemes rise 21% to Rs 41K crore in October
Equity mutual funds witnessed a record inflow of Rs 41,887 crore in October, marking a surge of over 21 per cent on a month-on-month (MoM) basis, according to the Association of Mutual Funds in India (AMFI) data. Inflows into equity schemes fell by 10 per cent in September to Rs 34,419 crore from Rs 38,239 crore in August.
Also, the monthly mutual fund SIP(Systematic Investment Plan) crossed the Rs 25,000 crore mark for the first time in October and stood at Rs 25,323 crore against Rs 24,509 crore in September.
According to Feroze Azeez, Deputy CEO, Anand Rathi Wealth Limited, amidst market volatility, AMFI data shows a trend which is favouring diversified equity funds which are mostly large cap and mid cap oriented. The SIP contributions have consistently reached new peaks over the past year, marking a 48 per cent YOY growth and reflecting positive market sentiment.”
Among the equity categories, all 11 categories received inflows. Sectoral and thematic funds received the highest inflows of around Rs 12,278 crore in October. Flexi cap funds received Rs 5,180 crore inflows.
