equity mutual fund A record investment of Rs 41,887 crore has come in October. This is an increase of more than 21 percent on a monthly basis. This has been bolstered by strong investment in sector-based funds. This is the 44th consecutive month of net inflows into funds investing in stocks, reflecting the growing attractiveness of mutual funds among investors, according to Association of Mutual Funds in India (Amfi) data released on Monday. Santosh Joseph, co-founder and chief executive officer (CEO), Germinate Investor Services, said, “The October numbers are truly extraordinary, especially considering the huge decline in the market. While in the same year there was an increase in equity inflows due to the strong performance of the market, there was a huge reversal in it in October.”
Most investment in equity mutual funds
He said, “The five-six per cent fall in both Sensex and Nifty is one of the sharpest falls in recent years, which we last saw in March, 2020. “Despite this, retail investors have shown remarkable strength and have infused over Rs 40,000 crore into equity mutual funds.” Overall, the mutual fund industry saw inflows of Rs 2.4 lakh crore in the month under review after outflows of Rs 71,114 crore in September. This huge inflow was due to investment of Rs 1.57 lakh crore in bond schemes.
AUM crossed 67 lakhs
Net assets under management (AUM) of the industry increased to Rs 67.25 lakh crore in October from Rs 67 lakh crore in September. According to the data, schemes investing in shares saw inflows of Rs 41,887 crore in October compared to Rs 34,419 crore in September. Earlier in June, Rs 40,608 crore was invested in equity schemes.
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