Net inflows into equity MFs decline in October

By: |
November 11, 2021 7:56 AM

Data released by the Association of Mutual Funds in India (Amfi) show that barring ELSS and value/contra schemes, all other schemes witnessed positive inflows during the month.

For shorter holding periods, (up to three years), the gains are added to income and taxed at the marginal tax rate.For shorter holding periods, (up to three years), the gains are added to income and taxed at the marginal tax rate.

Net inflows into equity-oriented mutual fund schemes declined to Rs 5,214.87 crore in October from Rs 8,677.41 crore in September as investors continued to book profit. Data released by the Association of Mutual Funds in India (Amfi) show that barring ELSS and value/contra schemes, all other schemes witnessed positive inflows during the month. The hybrid category continued to see inflows, except for arbitrage and hybrid aggressive/ balanced. The fund of funds, index funds and ETFs, too, reported inflows and collectively witnessed flows of Rs 10,758.85 crore as on October 31.

The average assets under management (AUMs) and net AUMs for the mutual fund industry have risen to record high levels of Rs 38.21 lakh crore and Rs 37.33 lakh crore, respectively, as on October 31, according to Amfi data released on Wednesday.

“Broadly, the mood to invest in equities continues with positive net sales of Rs 5,200 crore in pure equity funds. However, at the same time, we do see an element of profit booking with higher absolute redemption of Rs 23,500 crore,” said Akhil Chaturvedi, chief business officer, Motilal Oswal AMC.

SIPs posted record figures as the number of SIP accounts stood all-time high at 4,64,30,598 in October, compared to 4,48,97,602 in September. SIP AUMs breached the Rs 5.5 lakh-crore-mark at Rs 5,53,532.08 crore during the same period.

“It is heartening to see investors making matured choice by opting for schemes that offer prudent mix of debt and equity through balanced advantage schemes and flexi-cap schemes…”, said NS Venkatesh, chief executive
of the Amfi.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Looking for large and mid-cap equity exposure? Consider an index fund
2Want to buy Nifty 50 Index? Know about Nifty BeES ETF and how to invest in it
3HDFC Multi Cap Fund NFO: Find out what it offers and who should invest in it