Amfi July Mutual Fund Data: After a few months where people were a bit cautious, equity mutual funds finally saw a big boost in July. According to the latest numbers from AMFI, net inflows jumped by 81 per cent to Rs 42,700 crore, compared to about Rs 23,500 crore in June.
This is a welcome change after five straight months where money was actually flowing out of equity funds. Looks like investors are feeling more confident about the markets now, probably because of some steady economic news and the market holding up well.
The mutual fund industry as a whole also grew a bit. The total assets under management hit Rs 75.35 lakh crore in July, which is roughly a 1.3 per cent rise from the previous month. That’s not just from new money coming in but also because markets did well overall.
This is a developing story…..