look news india
Mumbai: Investor inflows into equity mutual funds rose 83.42 per cent to a record Rs 34,697 crore in May 2024, according to data released today by the Association of Mutual Funds in India (AMFI). Investment inflows into open-ended equity funds remained positive for the 39th consecutive month in May.
For the first time, equity mutual funds recorded a net investment inflow of over Rs 30,000 crore in May 2024, the previous record being Rs 28,463 crore in March 2022. Net investment in open-ended equity funds has grown rapidly due to increased investment in sectoral and thematic funds. Which has increased to Rs 19,213.43 crore in May. Let us tell you that with the launch of HDFC Manufacturing Fund in May, an investment inflow of Rs 9563 crore has been recorded in this new fund offering.
Amfi Chief Executive Venkat Chalasani said, “The environment conducive to sustained economic growth due to political stability has seen investment attraction and enthusiasm for long-term investment. The momentum of global growth has continued into 2024 and is likely to continue further.
Small cap funds attracted strong investments of Rs 2,724.67 crore and mid cap funds Rs 2,605.70 crore in May. Large cap funds witnessed overall weak investor interest, with May 2024 funds witnessing an investment of Rs 663.09 crore.
Investments through Systematic Investment Plans (SIPs) stood at Rs 20,904 crore in May 2024 as against Rs 20,371 crore in April 2024. Monthly investments through SIPS crossed the Rs 20,000 crore mark for the first time in April 2024. The number of new SIPs registered in May stood at 49,74,400 while SIP AUM was the highest ever at Rs 11.53 lakh crore in May 2024 as against Rs 11.26 lakh crore in April 2024.
Investment flow in equity mutual funds grew 16.42 per cent to Rs 18,917.08 crore in April 2024. Net investment in the fixed income category grew 77.73 per cent to Rs 42,294.99 crore. The liquid fund category recorded a strong investment inflow of Rs 25,873.38 crore.
While money market funds registered Rs 8271.75 crore. The hybrid fund category registered an investment of Rs 17,990.67 crore. Among other schemes, net investment in index funds was Rs 4,490.35 crore and net investment in gold exchange traded funds (ETFs) was Rs 827.43 crore.
The total assets under management (AUM) of mutual funds, including open-ended and closed-ended funds, increased to Rs 58.91 lakh crore at the end of May 2024 from Rs 57.26 lakh crore in April 2024.
