Indians invest record Rs.34,697 crore in equity mutual funds this May: AMFI - Hindustan Times
close_game
close_game

Indians invest record Rs.34,697 crore in equity mutual funds this May: AMFI

By | Edited by Abhyjith K. Ashokan
Jun 10, 2024 01:00 PM IST

The previous record for net inflows was Rs.28,463 crore, in March 2022.

Equity mutual funds saw an 83.42% surge in investment, rising to a record high of Rs.34,697 crore in May, according to the data released by the Association of Mutual Funds of India (AMFI).

Representational(Pexels)
Representational(Pexels)

Investment via systematic investment plans (SIPs) rose to Rs.20,904 crore in May, compared to Rs.20,371 crore in April. Monthly investments via SIPs topped the Rs.20,000-crore landmark for the first time ever in April 2024, according to a Moneycontrol report.

Also Read | SEBI looks to allow Mutual Funds to sell CDS schemes; Reform CDS buying rules

Net inflows into equity mutual funds zoomed past the Rs.30,000 crore level for the first in May 2024, as the previous record for net inflows was Rs.28,463 crore, which was hit in March 2022.

The surge in net investments into open-ended equity funds was fuelled by sectoral and thematic funds, which saw net inflows of Rs.19,213.43 crore during May. For example, HDFC Manufacturing Fund, which was launched during the month, garnered Rs.9,563 crore from investors during its new fund offer (NFO) period, according to the Moneycontrol report.

Also Read | BSE and RBI deny technical glitch causing mutual funds to lose money on election results day

Further, inflows remained strong in smaller-cap funds as small-cap and mid-cap funds saw net inflows of Rs.2,724.67 crore and Rs.2,605.70 crore, respectively. Investor interest remained largely lukewarm for large-cap funds as the category saw net investments of Rs.663.09 crore during the month, the report read.

Equity mutual fund inflows slumped 16.42% to Rs.18,917.08 crore in April 2024.

Indian benchmark indices traded largely flat in May as the BSE Sensex and the NSE Nifty inched lower by around 1%.

Also Read | What are Index Mutual Funds & How to Invest in them?

In the fixed-income or debt instrument category, net inflows slumped 77.73% during the month to Rs.42,294.99 crore.

Overall, open-ended mutual funds saw net inflows of 1.11 lakh crore during May.

Elevate your career with VIT’s MBA programme that has been designed by its acclaimed faculty & stands out as a beacon for working professionals. Explore now!

See more

Catch every big news on Union Budget 2024, Nirmala Sitharaman's announcements, income tax changes and much more on a one stop destination.

SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Monday, July 22, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On