42 months & counting! India puts more money into equity funds
equity mutual funds through a mix of lump sum investments in new fund offers (NFOs) and systematic investment plans (SIPs). Equity schemes garnered ₹38,239 crore in August — the 42nd straight month of inflows — as against ₹37,113 crore in the previous month led by flows into thematic funds, a category that has witnessed a flood of new fund offers in recent months.
Flows through SIPs into mutual funds inched up to ₹23,547 crore — the highest ever in a month — compared to ₹23,332 crore in the previous month.
Debt funds too saw inflows of ₹45,169 crore largely from overnight, liquid and money market funds. The total average assets under management (AUM) of the industry surged to a new high of ₹66.04 lakh crore from ₹64.71 lakh crore in July.
In August, the mutual fund industry launched 16 equity funds and two debt schemes. New fund offers (NFOs) of sectoral and thematic schemes such as Bank of India Business Cycle Fund, Invesco India Manufacturing Fund, Motilal Oswal Manufacturing Fund, Motilal Oswal Business Cycle Fund and SBI Innovative Opportunities Fund among others got ₹18,117 crore.
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