NEW DELHI :
Amid market volatility and political uncertainty, inflow to equity mutual funds plunged by 60% to ₹6,158 crore in January this year against ₹15,390 crore seen in such schemes in the same month last year.
This also marked the third consecutive monthly decline in inflows in such schemes, according to the data available with Association of Mutual Funds in India (Amfi).
The drop in inflow has pulled down the asset base of equity mutual funds (MFs) to ₹7.73 lakh crore at the end of January this year from ₹7.87 lakh crore in the year-earlier.
As per Amfi data, equity and equity-linked saving schemes saw an infusion of ₹6,158 crore in January 2019, compared with a staggering inflow of ₹15,390 crore seen in such schemes in January last year.
Inflow in equity funds was at ₹6,606 crore in December, ₹8,414 crore in November and ₹12,622 crore in October 2018.
Market players attributed the decline in inflow to volatile market and political uncertainty, wherein the broader indices remained under pressure.
Overall, the mutual fund industry witnessed a net inflow of ₹65,439 crore in January as against an inflow of ₹1.06 lakh crore in the same month last year.
The assets under management (AUM) for the industry stood at ₹23.4 lakh crore in January this year compared to ₹22.41 lakh crore at the end of January 2018.
This story has been published from a wire agency feed without modifications to the text.