Mumbai: With market rally and robust inflows across schemes mutual fund industry’s net assets under management rose to a new all-time high of over Rs 64.96 lakh crore for the month of July 2024 from over Rs 61.15 lakh crore in June 2024, data for July month released by Association of Mutual Funds in India showed.
Equity-oriented schemes inflows for the month of July stood at Rs 37,113.39 crore a tad lower than record Rs 40,608 crore. SIP or systematic investment plan contribution stood at an all-time high of Rs 23,331.75 crore in July as against Rs 21,262.22 crore in June 2024.
Thematic/sectoral funds inflows were a tad lower too at Rs 18,386.35 crore compared to Rs 22,351.69 crore.
Debt schemes combined together saw an inflow of over Rs 1.19 lakh crore, due to over Rs 70,060 crore inflow in liquid funds as corporates re-invested after quarter-end requirements. Hybrid schemes saw an inflow of Rs 17,436 crore with a maximum of Rs 11,014.75 crore going to the arbitrage fund and another Rs 3125.51 crore going to the multi-asset allocation fund.
Gold ETFs saw inflows of Rs 1337.35 crore as gold price fell on Budget announcement of import duty reduction.
Index funds and other ETFs also saw robust inflows at Rs 8019.70 crore and Rs 5787 crore respectively.
“SIP contributions reaching an all-time high of Rs 23,331.75 crores in July 2024 reflects the growing financial discipline among retail investors, helping them build wealth systematically over time, “Venkat Chalasani, chief executive, AMFI said.
“Mutual Fund Industry numbers underscore continued confidence of investors in Indian economy and Mutual Fund Industry Despite Global Volatility. Thematic and Sectoral Funds seem to have piqued interest from broad investor base and have mobilized Rs.59,951 crores in past 3 months backed by new fund offerings. A structural shift is happening in the way investors are thinking about investments due to increase in financial awareness and ease of access.” said Sanjay Bembalkar, co-head -Equity, Union Mutual Fund.