Monthly flows in the mutual fund sector soared to an all-time high of Rs 13,040 crore in October . Total inflow has risen to over Rs 87,000 crore in the first seven months of the current fiscal .
New Delhi: Monthly flows in the mutual fund sector soared to an all-time high of Rs 13,040 crore in October, according to data from the Association of Mutual Funds in India (AMFI).It was at Rs 12,140 crore in July, Rs 12,276 crore in June and Rs 12,286 crore in May.Prior to that, it stood at Rs 11,863 crore in April.With this, total inflow has risen to over Rs 87,000 crore in the first seven months of the current fiscal.This came following a rise of over Rs 1.24 lakh crore in the 2018-19 financial year.
However, mutual fund investors have demonstrated resilience and continue to invest in SIPs, with consistent contributions month after month.The total equity AUM and folios have increased also, according to N S Venkatesh, CEO of AMFI.During the month under review, mutual funds added 9.52 lakh SIP accounts, bringing the total amount invested to about 5.93 crore.SIP is a fixed-rate investing scheme used by mutual funds, which allows an individual to place a specific amount in a given scheme at a defined interval, say once a month.The SIP installment amount can be as low as Rs 500 per month. In September, equity funds attracted Rs 14,100 crore inflows for the 20th month in a row.These schemes saw outflows for eight months from July 2020 to February 2021, losing Rs 46,791 crore.On the other hand, debt mutual funds saw an outflow of Rs 14,047 crore in October, relative to a withdrawal of Rs 41,404 crore in September.Mutual fund folios (AUM) rose to 13.91 crore in October, reaching all-time highs in the last two months.