SIP inflows cross ₹13k cr for the first time in October
However, overall contributions to equity mutual fund schemes slumped
Inflows into open-ended equity mutual funds fell 33% to ₹9,390.35 crore in October, with investors turning cautious over high valuations of Indian equities. However, they continued to show faith in systematic investment plans (SIPs), with inflows at ₹13,040 crore, breaching the 13,000 crore-mark for the first time, according to the Association of Mutual Funds in India (Amfi)’s monthly data. BSE benchmark Sensex surged nearly 6% in October amid the weakness in global markets on account of a looming recession and high inflation. In September, SIP contributions were at ₹12,976 crore.