Net inflows into mutual funds saw a 4-month high of Rs 11,615 crore in November based on strong systematic investment planning (SIP) books despite market volatility.
It was also the ninth consecutive monthly net inflow, according to Association of Mutual Funds in India (AMFI) data released on Thursday.
Meanwhile, equity mutual funds saw net inflows of Rs 5,215 crore in October, Rs 8,677 crore in September and Rs 8,666 crore in August.
November saw the highest monthly net penetration since July, when equity-oriented mutual funds saw a net inflow of Rs 25,002.
Equity plans have seen net inflows since March of this year. The segment received a net inflow of Rs 85,381 crore during this period, highlighting the positive sentiment among investors.
Prior to that, such schemes have consistently seen outflows for 8 months from July 2020 to February 2021, losing Rs 46,791 crore in the process.
Overall, the mutual fund industry recorded a net inflow of Rs 46,165 crore in November compared with Rs 38,275 crore in October.
The inflows pushed the industry’s assets under management (AUM) to an all-time high of Rs 38.45 lakh crore at the end of November, from Rs 38.21 lakh crore at the end of October.
AMFI CEO NS Venkatesh attributes the impressive AUM to net outflows and a strong continued increase in monthly systematic investment plan (SIP) contributions.
“Despite increased uncertainty due to fears of a third wave of the pandemic and strong equity market volatility, retail investors continue to benefit and therefore also benefit,” Mr Venkatesh said. believes in SIP disciplined savings in mutual funds,” said Mr. Venkatesh.