October 10, 2024

Inflows into equity mutual fund schemes dip by 10% to Rs 38,239 cr in September

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Inflows into equity mutual funds declined by 10 per cent on a month-on-month basis to Rs 34,419.26 crore in September, compared to inflows of Rs 38,239.16 crore in the previous month.

The contribution of systematic investment plan (SIP) stood at an all-time high of Rs 24,508.73 crore in September 2024 as against Rs 23,547.34 crores in August.

Net assets under management (AUM) mutual fund industry increased to Rs 67,09,259.24 crore in September from Rs 66,70,305.14 crore in August.

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Among equity mutual fund schemes, sectoral/thematic funds witnessed a slowdown in inflows at Rs 13,254.63 in September, compared to Rs 18,117.18 accumulated in August. Multi cap funds saw inflows of Rs 3,508.88 crore compared to Rs 2,475.06 crore in the previous month.

Inflows into small and mid-cap funds were to the tune of Rs 3,070.84 crore and Rs 3,130.42 crore, respectively in the reporting month.

Debt mutual fund schemes witnessed outflows of Rs 1,13,833.95 crore as against inflows of Rs 45,169.36 crore in August. Major outflows were seen in liquid funds (Rs 72,665.97 crore), overnight funds (Rs 19,362.65 crore), money markets funds (Rs 23,420.84 crore) and ultra short duration funds (Rs 6,281.54 crore).

Outflows from debt mutual funds is a typical quarterly redemption pattern for liquidity management by financial institutions/corporates, said Sanjay Agarwal, Senior Director, CareEdge Ratings.

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Inflows into hybrid mutual fund schemes also slowed to Rs 4,901.05 crore in September from Rs 10,005.3 crore in August.

Retail mutual fund folios (equity + hybrid + solution oriented schemes) reached an all-time high at 16.81 crore, compared to 16.35 crore in the last month.

During the month, the number of new SIPs registered stood at 66.38 lakh. The SIP AUM was highest ever at Rs 13.81 lakh crore in September 2024 compared to Rs 13.38 lakh crore in August. The number of SIP accounts were at its highest ever at 9.87 crore in September 2024 as compared to 9.61 crore in August.

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