According to information provided by the Association of Mutual Funds (AMFI), profit booking in large-cap funds was the key factor in the 30% decrease in equity mutual fund inflows to Rs 14,091.26 crore in September. the net inflows into equity schemes in August totaled Rs 20,245.26 billion.
In September, systematic investment plan (SIP) contributions reached a record high of Rs 16,042.06 crore. In the same month, the mutual fund sector attracted four crore distinct investors.
The spike in domestic equity markets was the cause of the profit booking in September. The 30-share Sensex on the BSE and the Nifty 50 on the NSE both reached fresh all-time highs during the month.
Inflows into small-cap funds decreased by 37% in September, falling to Rs 2,678.47 crore from Rs 4,264.82 crore. Mid-cap fund inflows decreased to Rs 2,000.88 crore from Rs 2,512.34 crore the month prior.
Compared to August, when withdrawals were Rs. 348.98 crore, large-cap funds saw outflows of Rs. 110.6 crore in September. “Large-cap showed a negative number (outflows) of Rs 110 crore (in September) as some profit booking would have happened in the large-cap funds,” stated N S Venkatesh, CEO, of AMFI.
“Debt mutual fund outflows are in line with expectations. As September marks both the end of the quarter and the halfway point of the year, corporations would have taken money out of their liquid and overnight funds to pay their half-yearly taxes.
In September, net inflows into hybrid schemes increased to Rs 18,650.45 crore from Rs 17,081.68 crore in August. From Rs 1,617.33 crore in August, multi-asset allocation fund inflows increased to Rs 6,324.19 crore in September.
From net inflows of Rs 1,028.6 crore in August and Rs 456.15 crore in July, inflows into gold exchange-traded funds (ETFs) decreased to Rs 175.29 crore in September.
For the first time, the SIP contribution exceeded Rs 16,000 in value. SIP contributions totaled Rs 15,813 crore in August.
In September, there were 7,12,93,738 SIP accounts, which is a record-high figure compared to August’s 6,96,85,946. Compared to the previous month, when the SIP AUM was 8,47,130.87 crore, it was now 8,70,363.38 crore.
A record-breaking 36,77,157 new SIPs were registered in September, marking a new high. A total of 20,69,365 SIPs matured throughout the month.
