Equity mutual fund inflows fall to ₹2,906 crore in May; SIP inflows hit record high: AMFI Data
The inflows through Systematic Investment Plan (SIP) hit a record of ₹14,749 crore in May as compared to ₹13,728 crore in April.
PremiumEquity mutual funds saw net inflows of ₹2,906 crore in the month of May 2023, declining from ₹5,275 crore worth inflows in the previous month, data released by Association of Mutual Funds in India (AMFI) showed.
The inflows via Systematic Investment Plan (SIP) route hit a record of ₹14,749 crore in May as compared to ₹13,728 crore in April.
Inflows into smallcap mutual funds, however, increased to ₹3,283 crore in May from ₹2,182 crore in April. The midcap funds witnessed an inflow of ₹1,196 crore, up from ₹1,791 crore and dividend yield funds saw inflows of ₹289 crore.
As per the AMFI data, the largecap funds registered an outflow of ₹1,362 crore. Whereas, outflows in Equity linked saving schemes, or ELSS, stood at ₹505 crore during the month.
Market analysts believe investors opted for profit booking during the month, which led to the fall in equity inflows.
“Profit booking in rising market along with probable expenses towards vacation, education could have led to lower investments in mutual funds in May," said Manish Mehta, National Head and Sales, Marketing & Digital Business, Kotak Mahindra Asset Management Company.
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Debt funds saw inflows at ₹45,959 crore in May, significantly lower as compared to ₹1.06 lakh crore in April.
In the debt segment, short-term liquid funds saw net inflows worth ₹45,234 crore, while overnight fund saw outflows of ₹18,910 crore.
Meanwhile, inflows into hybrid funds jumped to ₹6,093 crore from ₹3,317 crore, MoM, led by arbitrage funds that saw net buying worth ₹6,639.64 crore.
Balanced hybrid/aggressive hybrid funds saw outflows of ₹996.78 crore in May.
The total asset under management (AUM) of the mutual fund industry as of May 2023 rose to ₹43.20 lakh crore from ₹41.61 lakh crore in April.
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