August 10, 2021 3:30:45 am
Aided by new fund offers and bullish stock markets, equity mutual funds saw record inflows worth Rs 22,583.52 crore in July, compared to Rs 5,988.17 crore inflows in June and Rs 10,082 crore in May.
The record inflows in July were spearheaded by flexi-cap and sectoral funds, indicating the increasing investor interest in the last couple of months. Four new fund offers of equity funds put together brought in Rs 13,709 crore, including Rs 9,808 crore that ICICI Prudential Flexicap Fund collected. Flexi-cap funds received Rs 11,508 crore in July, according to data compiled by the Association of Mutual Funds in India (AMFI).
With a total net inflow of Rs 19,481.07 crore in July, hybrid funds continued a good show. Of this, arbitrage funds accounted for Rs 14,924.43 crore.
However, multi asset allocation funds saw outflows in the month of July. Due to the drop in gold prices, gold ETFs saw outflows this month.
N S Venkatesh, chief executive, AMFI said: “Retail investors are participating in the rally, largely through mutual fund SIPs on a continued rising quantum at record levels.”
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