The country’s mutual fund industry witnessed a net inflow of Rs 87,087 crore during the month of July, even as stock and debt markets faced volatility in the same month.
According to a report released by the Association of Mutual Funds of India (AMFI), equity schemes witnessed an inflow of Rs 8,112 crore during the month, even as the benchmark BSE Sensex declined on the back of a sell-off by foreign portfolio investors (FPIs) over the issue of the additional surcharge on income tax, which was announced by the government during the Union Budget on July 5.
The debt segment, meanwhile, saw an inflow of Rs 61,845 crore in July 2019. As much as Rs 45,441 crore was accounted by liquid schemes.
Hybrid schemes witnessed an inflow of Rs 7,393 crore, according to AMFI data.
The average asset under management (AUM) of the mutual fund industry increased to Rs 25.81 lakh crore in July, the AMFI reported.
On the July performance, NS Venkatesh, chief executive, AMFI, said: “Despite difficult month and volatile market conditions, the overall sentiment towards debt, equity and hybrid mutual fund schemes has been positive, and equity SIP (systematic investment plan) contributions are at all time high over last three years.
“This conveys signs of maturity on the part of retail investors and is reflective of continued investor trust on the Indian MF Industry,” he added.