Inflows into equity mutual funds jumped 21% to Rs 29,911 crore in November, snapping a two-month decline, according to the monthly data released by the Association of Mutual Funds in India (AMFI) on December 11.
Flexi Cap funds saw a month-on-month decline in inflows, falling from Rs 8,928.71 crore in October to Rs 8,135.01 crore in November — a drop of Rs 793.70 crore.
However, the category continued to see robust inflows, emerging as the best-performing category in terms of the amount of money it received during the month of November.
ELSS, Dividend Yield Funds again witness outflows
Among all equity subcategories, only ELSS (equity-linked savings scheme) and dividend yield fund logged outflows. However, the pressure eased slightly in ELSS subcategory, with outflows narrowing from Rs 665.66 crore in October to Rs 570.17 crore in November.
Dividend Yield Funds continued to see money moving out, with outflows widening from Rs 178.96 crore in October to Rs 277.74 crore in November.
Top performing equity subcategories
Large & Mid Cap Funds saw a strong jump in inflows, rising from Rs 3,177.00 crore in October to Rs 4,503.31 crore in November — an increase of nearly 41.7%.
Midcap funds continued to attract strong investor interest, with inflows rising from Rs 3,807.11 crore in October to Rs 4,486.91 crore in November — an increase of about 17.8%.
“Investors have continued to show faith in equity despite the volatility in the markets. Flexi cap category got the highest flows at Rs 8,135 crore followed by large & Midcap category at Rs 4,503 crore. Inflows into sectoral and thematic funds have slowed. The ability of flexi cap funds to invest across market caps and their present large-cap bias attracted funds to the category,” says Ovas Bakshi, Head-Retail Sales, Kotak Mahindra AMC.