Mumbai: Indian mutual fund industry witnessed sustained inflows through the systematic investment plan or SIP. The SIP investments since the beginning of the current financial year crossed Rs 1 lakh crore mark. Data released by the Association of Mutual Funds in India (Amfi) revealed this.
SIP investments were at Rs 1.08 lakh crore in the 7 months ended October. In the previous month, SIP investments hit a record high of Rs 16,928 crore. As of October, the SIP assets under management stood at Rs 8.59 lakh crore, compared to Rs 8.70 lakh crore a month ago.
‘The record high SIP contribution is reflective of the confidence of investing in equities through this route, which has been on the rise and has been performance-agnostic. It also helps build portfolios during such volatile times,’ said A Balasubramanian, MD and CEO, Aditya Birla Sun Life AMC.
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Open-ended equity funds saw net inflows of about Rs 19,960 crore in October, whereas debt funds witnessed inflows of Rs 42,634 crore. The mutual fund industry’s assets under management as of October end stood at Rs 46.72 lakh crore, up about 0.3% month-on-month.
Large-cap equity funds recorded net inflows of Rs 723.8 crore in October. Large-cap funds saw outflows of Rs 111 crore in September. Smallcap funds saw net inflows of Rs 4,495 crore last month, compared with Rs 2,678 crore in September. In the 7 months ended October, inflows into smallcap funds stood at Rs 22,960 crore. Inflows into sectoral/thematic funds increased further in October to Rs 3,896 crore from Rs 3,147 crore in September.
Among others, the multi-cap category also recorded Rs 2,911 crore. Sectoral/thematic funds saw net inflows of Rs 3,896 crore, while flexi-cap also saw strong inflows of Rs 2,168 crore.
Meanwhile, open-ended debt schemes saw Rs 42,634 crore in net flows, spurred by close to Rs 33,000 crore in liquid funds. The money market category also saw Rs 6,248 crore in net inflows.
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