Mutual Funds: Number of unique investors crosses four crore in September
The net inflow to equity mutual funds fell to 14,091 crore rupees in the month of September from 20,245 crore rupees in Aug.
The net inflows/ outflows to mutual funds was (-) 66,191.59 crore rupees for September.
“The September quarter marked the end of half-year and that of quarter, so the corporates withdrew money for taxes,” N.S.Venkatesh, chief executive of AMFI.
Also, banks withdraw money to avoid keeping additional capital. So they moved money to the RBI and hence the negative inflow figure, he added.
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, SIPs saw a good traction. For the first time, SIP contribution crossed more than 16 crore rupees in the gross inflow.
The number of SIP folios hit 7.12 crore. The AUM of mutual funds hit 8,17,866 crore rupees, while the new SIPs hit an all-time high of 36 lakh.
The hybrid schemes saw an increase from 17,081 crore rupees to 18,650 crore rupees.
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