Net inflows into equity-oriented mutual fund schemes declined to Rs 5,214.87 crore in October from Rs 8,677.41 crore in September as investors continued to book profit. Data released by the Association of Mutual Funds in India (Amfi) show that barring ELSS and value/contra schemes, all other schemes witnessed positive inflows during the month. The hybrid category continued to see inflows, except for arbitrage and hybrid aggressive/ balanced. The fund of funds, index funds and ETFs, too, reported inflows and collectively witnessed flows of Rs 10,758.85 crore as on October 31.
The average assets under management (AUMs) and net AUMs for the mutual fund industry have risen to record high levels of Rs 38.21 lakh crore and Rs 37.33 lakh crore, respectively, as on October 31, according to Amfi data released on Wednesday.
“Broadly, the mood to invest in equities continues with positive net sales of Rs 5,200 crore in pure equity funds. However, at the same time, we do see an element of profit booking with higher absolute redemption of Rs 23,500 crore,” said Akhil Chaturvedi, chief business officer, Motilal Oswal AMC.
SIPs posted record figures as the number of SIP accounts stood all-time high at 4,64,30,598 in October, compared to 4,48,97,602 in September. SIP AUMs breached the Rs 5.5 lakh-crore-mark at Rs 5,53,532.08 crore during the same period.
“It is heartening to see investors making matured choice by opting for schemes that offer prudent mix of debt and equity through balanced advantage schemes and flexi-cap schemes…”, said NS Venkatesh, chief executive
of the Amfi.