Mutual fund managers continued their shopping spree in August purchasing shares worth a staggering Rs 10,533 crore even though overseas investors pulled out a record money from the stock market. This was the 16th consecutive month when MFs invested in equities. The latest data showed fund managers bought shares worth a net Rs 10,533 crore last month while foreign portfolio investors (FPIs) pulled a record Rs 17,434 crore off the table during the period. This is an all-time high net outflow by FPIs since 1997, prior to which the segregated data are not available. In October 2008, FPIs had offloaded a net Rs 15,347 crore from the market in the aftermath of Lehman Brothers collapse, which triggered the global financial crisis. Of the total investment of Rs 10,533 crore by MF managers, last week alone saw a net inflow of Rs 7,715 crore when the benchmark Sensex plunged 974 points, or 3.55 per cent, and the NSE Nifty 298 points, or 3.59 per cent. Experts said fund managers made intensive buying last week when the domestic market crashed due to the rout in Chinese equities. The sell-off by overseas investors in the Indian equity markets has meant an opportunity to MF managers. The fund managers have been bullish on the stock market ever since the Narendra Modi-led BJP government came to power at the Centre. Since then, they have made a net investment of more than Rs 80,000 crore in the equity market. In addition, robust inflows from retail investors in the equity segment have helped. Till April last year, holdings were facing liquidation due to redemptions from investors. Mutual funds collect money from investors and buy stocks, including IPOs (primary market) and bonds.