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Business News/ Mutual Funds / Inflows into equity mutual funds surged for 35th month in a row: Report
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Inflows into equity mutual funds surged for 35th month in a row: Report

Equity funds saw a 28 per cent surge in inflows, reaching ₹21,780 crore in January. This marked the 35th consecutive month of positive inflows into equity funds, starting from March 2021, stated the Vintage Wealth Products Report for February.

Debt mutual funds saw a notable turnaround with an inflow of ₹76,469 crore in January 2024 Premium
Debt mutual funds saw a notable turnaround with an inflow of 76,469 crore in January 2024

Thanks to a considerable surge in mutual fund inflows, total mutual funds’ assets under management (AUM) hit a whopping 52.74 lakh crore last month against 50.78 lakh crore in December 2023.

Additionally, the SIP contribution hit a new record high of 18,838 crore in January 2024 as compared to 17,610 crore in December 2023, as noted by Prabhudas Lilladher's Vintage Wealth Products Report for February.

While benchmark equity indices snapped their gaining streak; mid-cap and small-cap indices continued to rise and surged 5 per cent and 7 per cent, respectively in January, the report observed.

The yield on the 10-year benchmark fell to 7.14 per cent on January 31, 2024 as against 7.18 per cent in December 2023.

Equity funds saw a 28 per cent surge in inflows, reaching 21,780 crore in January. This marked the 35th consecutive month of positive inflows into equity funds, starting from March 2021.

Top performing funds across market cap

In the last one year, the top-performing large cap schemes which gave highest returns include Nippon India Large Cap Fund (36.27 percent), Kotak Bluechip Fund (25.26 percent) and Canara Rob Bluechip Equity Fund (25.95 percent), the report noted attributing to ACE MF.

The top performing mid cap schemes delivering highest returns include Quant Mid Cap fund (51.87 percent), Motilal Oswal MidCap Fund (47.85 percent) and Kotak Emerging Equity Fund (35.40 percent), as on Jan 31, 2024.

Large Cap Funds                                        1-year-returns (%)
Nippon India Large Cap Fund (G)              36.27
Kotak Bluechip Fund (G)                              25.26
Canara Rob Bluechip Equity Fund-Reg (G)  25.95

(Source: ACE MF; As on Jan 31, 2024)

Mid cap schemes                             1-year-returns (%)
Quant Mid Cap fund              51.87
Motilal Oswal MidCap Fund  47.85
Kotak Emerging Equity Fund         35.40

(Source: ACE MF; As on Jan 31, 2024)

At the same time, top performing small cap funds include Bandhan Small Cap Fund (69.39 percent), Nippon India Small Cap Fund (56.71 percent) and Tata Small Cap Fund (40.05 percent).

Among flexi cap schemes, the top performing schemes include Quant Flexi Cap Fund (48.81 percent), Parag Parikh Flexi Cap (37.43 percent) and White Oak Capital Flexi Cap (36.24 per cent).

Debt instruments

Debt mutual funds, meanwhile experienced a notable turnaround with an inflow of 76,469 crore in January 2024, marking a significant shift from 75,560 crore outflow witnessed in December 2023, the report noted.

Meanwhile, government guaranteed bonds issued by UPPCL (Uttar Pradesh Power Corporation Ltd) offer a coupon rate of 9.95 percent, Andhra Pradesh Capital Region Development Authority’s bonds offer 10.32 percent, and Kerala Infra Investment Fund Board issued bonds offer a coupon rate of 8.95 percent.

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Published: 29 Feb 2024, 09:12 AM IST
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