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Strong Inflows Seen In Equity Schemes In August, Says Mutual Funds Data – Unblendednews

Strong Inflows Seen In Equity Schemes In August, Says Mutual Funds Data

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Strong Inflows Seen In Equity Schemes In August, Says Mutual Funds Data

Equity schemes witnessed greater inflows during August 2021

Healthy inflows in new fund offers (NFOs) helped in mutual funds getting an investment of Rs 8,666 crore in August 2021, according to data released by Association of Mutual Funds in India (AMFI). Easing of Coronavirus related lockdowns and opening of economic activities also led to inflows in equity schemes.

This was the sixth consecutive week of monthly infusion when equity schemes had seen net inflow of Rs 5,988 crore in June, Rs 10,083 crore in May, Rs 3,437 crore in April and Rs 9,115 crore in March.

Before this boom period, equity scheme had repeatedly witnessed outflows for eight months between July 2020 to February 2021. This was also the period when India was gradually coming out of the nation-wide lockdown and job losses were rampant, forcing people to dig into their savings.

The inflow pushed assets under management (AUM) of the mutual fund industry to an all-time high of Rs 36.6 lakh crore at August-end from Rs 35.32 lakh crore at July-end, the data further showed.

“Overall positive flows in the open-ended mutual fund (MF) schemes and market indices touching all-time high, helped the Indian MF industry’s net AUMs breach record Rs 36 lakh crore milestone in August 2021,” N S Venkatesh, chief executive of AMFI, said.

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