Aug 09, 2024 03:32 PM IST
Monthly gross systematic investment plan (SIP) inflows hit a fresh record high of ₹23,332 crore during July.
Open-ended equity mutual fund inflows fell 8.61 per cent to ₹37,113.39 crore during July owing to a fall in investments in large-cap and mid-cap funds, as per the data released by the Association of Mutual Funds of India (AMFI).
Earlier, inflows into equity mutual funds surged by 17 per cent to ₹40,608.19 crore in June to a record high. Monthly gross systematic investment plan (SIP) inflows hit a fresh record high of ₹23,332 crore during July. These were at ₹21,262 crore in June.
Feroze Azeez, Deputy CEO, Anand Rathi Wealth Limited, said, “Multicap funds have consistently attracted more inflows over the past three months, reaching ₹7,080 crore in Jul 24. Midcap funds, however, saw slower inflows this month, while small caps brought in nearly the same amount as in June 2024, around ₹2,000 crore. Surprisingly, large-cap funds haven’t seen higher inflows compared to June 2024, but dividend yield funds, which are large-cap oriented, recorded comparatively higher inflows at ₹630 crore against ₹520 crore last month.”
He added, “SIP numbers hit a new peak at ₹23,332 crore, reflecting the resilience of domestic investors and their strong faith in the fundamentals of the Indian economy.”
