look news india
Mumbai: Investors' investment enthusiasm in mutual funds continues to remain consistent and investment inflows into equity mutual funds grew 17 per cent to a new record high of Rs 40,608.19 crore in the month of June 2024, according to data from the Association of Mutual Funds in India (AMFI).
Net investment inflows into equity mutual funds rose 83.42 per cent from the previous month to a record high of Rs 34,697 crore in May. The assets under management (AUM) of the mutual fund industry rose to Rs 61.16 lakh crore in June.
The industry's AUM has reached this level, crossing the Rs 60 lakh crore mark for the first time. Meanwhile, debt mutual funds recorded an investment outflow of Rs 1,07,357.62 crore in June. Open-ended mutual funds recorded a net investment outflow of Rs 43,108.80 crore in June.
Speaking about the June month figures, AMFI Chief Executive Venkatra Chalasani said that the mutual fund industry has registered significant growth. The industry has consistently benefited from consistent investment flows in equity mutual funds, hybrid funds and passive funds. Investments through Systematic Investment Plan (SIP) increased to Rs 21,262 crore in June from Rs 20,904 crore in May. The number of SIPs has also increased to 55.13 lakh in June 2024.
Whereas in the month of June, SIP AUM has been recorded at Rs 12.44 lakh crore. Which was recorded at Rs 11.53 lakh crore in the month of May. Apart from this, the number of SIP accounts has also increased to 8.99 crore in June 2024 as compared to 8.76 crore in May.
Equity funds from sectoral/thematic funds recorded the highest inflow of Rs 22,351.69 crore in June. In new fund offerings, nine funds raised Rs 12,974 crore in June. In the equity fund category, inflows into multicap funds grew 78 per cent to Rs 4708.57 crore in June. Apart from this, investment in large cap funds grew 46 per cent to Rs 970.49 crore.
However, investment flow in small cap funds fell by 17 percent to Rs 2263.47 crore. While investment in midcap funds fell by three percent to Rs 2527.84 crore. Fixed income funds, debt funds and liquid funds recorded a net investment outflow of Rs 80,354.03 crore in June. Investment outflow in the overnight fund category stood at Rs 25,142.72 crore.