Investors pump ₹10,585 crore into equity mutual funds in July1 min read . Updated: 15 Aug 2018, 11:52 PM IST
Total inflow has reached to over 43,300 crore in equities during the current financial year, according to Amfi
New Delhi: Investors pumped a staggering ₹ 10,585 crore in equity mutual funds in July, mainly driven by strong corporate earnings and near normal monsoon. With this, total inflow has reached to over ₹ 43,300 crore in equities during the current financial year (April-July), according to the data from the Association of Mutual Funds in India (Amfi).
Strong inflow pushed the asset base of equity mutual funds by more than 10% to ₹ 8.3 lakh crore by July-end from ₹ 7.5 lakh crore at end-March.
According to Amfi data, equity and equity-linked saving schemes saw an inflow of ₹ 12,409 crore in April, ₹ 12,070 crore in May, ₹ 8,237 crore in June and ₹ 10,585 crore in July. “Strong earnings season and near normal monsoon have buoyed the sentiments in near term. However, in last few years we are seeing that the average Indian investors are now far more financially literate and mature. They realize that India is a strong structural story and participating for the long term as reflected by the growing SIP book.
Overall, the industry saw a pull out of funds to the tune of over ₹ 32,000 crore in July.