Despite volatility in the markets, equity-oriented schemes logged inflows of Rs 9,152.43 crore in August, the highest in the current financial year so far. Net inflows into mutual funds were at Rs 1.02 lakh crore against inflows of Rs 87,087.71 crore in July.
In August, total amount collected through systematic investment plans (SIP) was at Rs 8,231 crore – lower compared to July when it had seen collection of Rs 8,324 crore. G Pradeepkumar, CEO at Union Asset Management Company, said: “With correction in the markets in the last few months, people are finding valuations to be attractive and have started increasing the allocation to equities. Even announcement by the government to boost the economy also gave some confidence to the market.”
In equity-oriented schemes, inflows were seen into all categories barring dividend yield funds. Large-cap and mid-cap saw inflows of Rs 2,582.97 crore and Rs 1,067.82 crore, respectively in August.
Small cap funds saw inflows of Rs 1,307.26 crore. Even debt oriented schemes saw inflows of Rs 91,126.76 crore. The AUM as of August for the mutual fund industry stood at Rs 25.47 lakh crore against Rs 24.53 lakh crore in July.