At Rs 16.9k crore, SIPs hit new high despite volatile market

msid 105108018,imgsize 15554

MUMBAI: Despite a highly volatile stock market in October, all equity mutual fund categories recorded net inflows during the month while flows through the systematic investment plan route inched closer to the Rs 17,000-crore mark, an all-time high figure.
Equity schemes recorded a net inflow of Rs 19,957 crore, data released by industry trade body Amfi showed.Among equity schemes,small cap funds saw net inflow of nearly Rs 4,500 crore the corresponding number for thematic funds was almost Rs 3,900 crore. In October, gross flows through SIPs were at Rs 16,928 crore, while net addition of SIP accounts was a little over 17 lakh, both all-time high figures, the data showed. The positive trend was visible in the debt market too. Despite rising yields, debt funds raked in Rs 42,634 crore.
According to Amfi CEO N S Venkatesh, despite peaking interest rates, there was a notable surge in money market investments in October. “The large-cap category has also witnessed a noteworthy resurgence, reflecting broader market recovery,” Venkatesh, whose term ends soon, said.

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button