Mumbai: Net inflows into the equity- oriented schemes grew close to three times to Rs 2,256.37 crore in June over Rs 797 crore in May, as per the Amfi data.
Net inflows for the open-ended growth and equity-oriented schemes have been consistently rising since April, according to the Association of Mutual Funds in India (Amfi) data released Monday.
Net flows into the open-ended growth and equity-oriented schemes rose to Rs 7,663.14 crore in June from Rs 4,608.74 crore in April, largely driven by multi-cap and large cap fund categories.
"Political stability, lower inflation coupled with the Reserve Bank of India's stance to lower interest rates is driving the enhanced retail inflows towards equity-oriented schemes," Amfi chief executive NS Venkatesh said in a statement.
Overall net inflows for hybrid schemes was at Rs 862.61 crore in the reporting month.
He attributed the outflows from the liquid schemes from the fixed income side, to "the usual quarter-end phenomena where the industry does witness temporary redemptions from liquid funds."
During the reporting month, the flows into gilt schemes and long duration schemes stood positive, owing to the dovish stance of the RBI on interest rates.
Net outflows from income and debt oriented schemes to the tune of Rs 1.71 trillion in June led to the overall decline in the June month-end asset under management at Rs 24.25 trillion from Rs 25.93 trillion in May.
The overall AUM for June, however, stood higher at Rs 25.81 trillion compared to Rs 25.43 trillion for May and Rs 25.27 trillion in April, the data showed.
Systematic investment plans contribution for June stood at Rs 8,122.13 crore coming from 2.73 crore SIP accounts.