MUMBAI: Growing investor interest about mutual funds helped assets managed by Indian MFs rise to a record high of Rs 37.3 lakh crore in October, up from Rs 36.7 lakh crore in September and Rs 28.2 lakh crore a year earlier.
During the month, contributions through the systematic investment plan (SIP) route also rose to a new record high at Rs 10,519 crore, data from industry trade body AMFI showed.
According to AMFI chief executive N S Venkatesh, net positive flows during October in all categories of open-ended MF schemes — be it debt, equity, hybrid, solutions-oriented, index, fund of funds or ETFs — coupled with continued buoyancy in SIP flows, which are at a historic high, boosted overall Indian MF industry assets to a record level.
During October, net inflows through all the debt schemes together was nearly Rs 13,000 crore, while through the equity schemes it was Rs 5,215 crore. However, as the market is hovering at record high levels, investors are also showing their preference for hybrid schemes, industry players said. During the month, net inflows through the hybrid schemes was at Rs 10,437 crore.
Investors’ rising preference for passive investing could be seen from a net inflow of Rs 10,759 crore, they said. AMFI data also showed that investors were taking money off closed-ended and ELSS schemes, with the month’s figures at Rs 1,082 crore and Rs 136 crore.
The data from industry trade body further showed that average AUM at the end of October was at Rs 38.2 lakh crore, another record high. It also showed that the number of MF folios were at 11.4 crore while the corresponding number under retail schemes were at 9.3 crore, both all-time high numbers. The number of SIP accounts at the end of October was 4.6 crore, up from nearly 4.5 crore a month ago.