The net inflow to equity mutual funds fell to ₹14,091 crore in the month of September from ₹20,245 crore in Aug, revealed the AMFI (Association of Mutual Funds in India) data for the month of September.
The net inflows to mutual funds was (-) ₹66,191.59 crore for September. “The September quarter marked the end of half-year and that of quarter, so the corporates withdrew money for taxes. Also, banks withdraw money to avoid keeping additional capital. So they moved money to the RBI and hence the negative inflow figure,” N.S.Venkatesh, chief executive of AMFI.
One of the milestones that the mutual fund industry has touched this month is that of crossing the number of four crore unique investors.
Additionally, Systematic Investment Plan (SIP) saw good traction. For the first time, SIP contribution crossed more than ₹16 crore at ₹16.42 crore in the gross inflow.
The number of SIP folios hit 7.12 crore. The AUM of mutual funds hit ₹8,17,866 crore, while the new SIPs hit an all-time high of 36 lakh.
The hybrid schemes saw an increase from ₹17,081 crore to ₹18,650 crore. The net inflow to index funds fell from ₹1,985 crore to ₹1,682 crore. Large cap funds saw a redemption of ₹110 crore lower than ₹349 crore last month.
Mid and small caps saw a lower inflow this month. From ₹2,512 crore, the inflow to mid-cap funds fell to ₹2,000 crore in September. Also, inflow to small cap funds fell from ₹4,264 crore to ₹2,678 crore.
