Healthy inflows in new fund offers (NFOs) helped in mutual funds getting an investment of Rs 8,666 crore in August 2021, according to data released by Association of Mutual Funds in India (AMFI). Easing of Coronavirus related lockdowns and opening of economic activities also led to inflows in equity schemes.
This was the sixth consecutive week of monthly infusion when equity schemes had seen net inflow of Rs 5,988 crore in June, Rs 10,083 crore in May, Rs 3,437 crore in April and Rs 9,115 crore in March.
Before this boom period, equity scheme had repeatedly witnessed outflows for eight months between July 2020 to February 2021. This was also the period when India was gradually coming out of the nation-wide lockdown and job losses were rampant, forcing people to dig into their savings.