Equity mutual fund inflows fall in September 2023: AMFI data
mutual funds continue to see inflows while large-cap funds witnessed outflows, the data showed. “Equity-oriented funds continued to witness net inflows in September, marking the 31st consecutive month of net inflows. The segment witnessed net inflows of ₹14,091.2 crores in September 2023 lower than what it witnessed in the previous month ( ₹20,245.26 crore).
The equity segment was also aided by 6 new fund launches in September which garnered INR 2,503 crore," said Melvyn Santarita, Analyst – Manager Research, Morningstar Investment Adviser India. Among the equity asset class, the sectoral/thematic funds saw the highest inflows to the tune of ₹3,146.8 crore during the month. “The spike in the flows of this category could also be attributed to the fact that there were 4 new fund launches in this category which cumulatively garnered Rs1,629 crore during the month of September.
In August 2023 too, this category saw the highest flows ( ₹4,805.81 crores aided by 5 new fund launches)," said Melvyn Santarita In the debt funds category, outflows surged significantly. Smallcap fund inflows stood at ₹2,678 crore. Midcap funds stood at ₹2,001 crore.
Meanwhile, the Systematic Investment Plan (SIP) inflows stood at ₹16,402 crore. As per AMFI data, the cumulative Asset Under Management (AUM) for the mutual fund industry stood at ₹46.58 lakh crore as of September 30. The quantum of net flows in both the small-cap and the midcap as a category saw a dip compared to the previous months.
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