Equity mutual fund inflows slump 9% to ~37K cr in July
Tribune News Service
Chandigarh, August 9
Owing to the drop in fund infusion in large-cap, small and mid-cap categories, inflow in equity mutual funds declined 9 per cent month-on-month to Rs 37,113 crore in July, according to a data by the Association of Mutual Funds of India (AMFI).
Despite this decline, open-ended equity funds have continued to experience positive inflows for the 41st consecutive month. The inflow is second only to June, when inflows into equity mutual funds had surged by 17 per cent to Rs 40,608.19 crore.
Moreover, monthly contributions from Systematic Investment Plan (SIP) rose to an all-time high of Rs 23,332 crore in July as against Rs 21,262 crore in the preceding month.
With these inflows, the industry’s net assets under management rose to an all-time high of Rs 65 lakh crore in July-end from Rs 61.15 lakh crore in June-end.
This represents a significant milestone, surpassing the Rs 60 lakh crore mark for the first time, which was previously achieved in June.
“In July 2024, equity inflows declined by 9% to Rs 37,113.39 crore, yet the positive trend continues for 41 months, reflecting strong investor confidence. Sectoral/thematic funds contributed Rs 18,386.35 crore, while Multi-cap funds attracted Rs 7,084.61 crore, indicating a shift in investor preference towards categories with higher alpha potential,” said Pankaj Shrestha, head of Investment Services, PL Capital - Prabhudas Lilladher.
According to data, in July, approximately 15 new fund offers were introduced, collectively raising Rs 16,565 crore. Among these, sectoral and thematic funds led the way with a substantial contribution of Rs 9,790 crore.
