Thematic funds lose some charm in Nov, SIPs maintain flows
equity mutual funds in November, reflecting the impact of fewer thematic or sector-specific new offerings through the month that also coincided with sustained exits from local risk assets by overseas investors.
Systematic investment plans (SIP) stayed stable even as total flows to growth-oriented funds shrank 14%, to ₹35,943 crore, from October's ₹41,887 crore.
Monthly net subscriptions to thematic funds fell to this fiscal year's second-lowest level, at ₹7,658 crore. This marks the lowest inflows into the category since April. Net inflows into the category, which peaked at ₹22,352 crore in June, never declined below ₹12,000 crore between May and October, on multiple new fund offerings by the industry.
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SIP purchases stayed stable at ₹25,320 crore, underscoring the ability of the Indian capital markets to generate wealth for the disciplined investor.
Debt funds, too, saw inflows of ₹12,916 crore, largely on account of inflows into low-duration and money-market funds. A fall in allocation to stocks through the volatile month saw total average assets under management (AUM) fall marginally to ₹68.04 lakh crore, compared with ₹68.5 lakh crore in October.
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