New Delhi: Equity mutual fund schemes witnessed an inflow of over Rs 2,500 crore in July, taking the total to nearly Rs 12,000 crore in the ongoing financial year.
"Open-ended equity fund net sales were positive last month," Bajaj Capital National Head Mutual Funds Anjaneya Gautam said.
According to data from Association of Mutual Funds in India (Amfi), equity funds, which also include equity-linked saving schemes (ELSS) saw net inflow of Rs 2,506 crore in July, higher than Rs 320 crore in the preceding month.
Prior to that, equity schemes had witnessed an inflow of Rs 4,438 crore and Rs 4,721 crore in April and May respectively. With this, equity funds saw Rs 11,985 crore coming in during April-July Period of the current financial year.
In comparison, such funds had seen a net inflow of Rs 39,066 crore during April-July period of 2015-16 fiscal. The latest inflow has pushed the assets under management (AUM) of equity mutual fund to a record high of Rs 4.5 lakh crore at the end of July from Rs 4.28 lakh crore in June-end.
Overall, AUM of the industry, comprising 42 active players, also reached to an all time high of Rs 15.2 lakh crore at the end of last month from Rs 13.81 lakh crore in June-end.
"The growth in industry AUM can be attributed to average equity index (BSE Sensex) growth of about 3.7 per cent in July over the preceding month," Gautam said.
Mutual Funds are investment vehicles made up of a pool of funds collected from a large number of investors and invest in stocks, bonds and money market instruments, among others....