After declining for two months in a row, contribution to equity mutual funds rose in the month of September, the AMFI (Association of Mutual Funds in India) data reveals. The inflow to equity mutual funds touched ₹14,099 crore last month.
This was more than double of equity inflow in the month of August i.e., ₹6,119 crore. and even higher than the July’s inflow of ₹8,898 crore, but lower than the June inflow of ₹15,497 crore.
It is worth noting that the outflow of debt-oriented funds was a whopping ₹65,372 crore.
At the same time, hybrid schemes saw an outflow of ₹2,687 crore. The index and exchange traded funds saw a massive increase last month. Index funds saw an inflow of ₹2,317 crore, gold ETFs saw an inflow of ₹330 crore and other ETFs witnessed an inflow of ₹10,807 crore.
As far as equity schemes are concerned, sectoral funds saw an inflow of ₹4,418 crore, followed by flexi cap and mid cap funds that saw an inflow of ₹2,401 crore and ₹2,151 crore, respectively.
The small cap funds witnessed an inflow of ₹1,825 crore, followed by large and mid-cap find that saw an inflow of ₹1,468.82 crore.
The mutual funds saw an SIP contribution of ₹12,976.34 lakh crore in September. The number of SIP accounts stood at 5,83,77,684 in September.
Speaking on the September data, N S Venkatesh, Chief Executive, AMFI said: “SIP numbers look healthy with the highest ever contribution at ₹12,976.34 crores a month. We are hopeful that we will touch ₹13,000 crore per month mark in contribution in the coming months.”
He added, “In the last few months markets reacted to inflationary factors and events like rate hikes. However, small investors have shown consistent faith in mutual fund investments. They see SIP as wealth accumulation and wealth creation over a longer term. Investors must stay focussed on their goals and continue to invest in Mutual funds and not lose the opportunity”.