MUMBAI: Mumbai: A resilient economy in the face of global volatility, which lifted the equity markets to new highs in July, prompted retail investors to repose their faith in mutual funds and continue their investments through this asset class.
As a result, the monthly flows through the SIP route jumped to an all-time high of Rs 23,332 crore while the total assets under management of the MF industry was almost at Rs 65 lakh crore, also a new record high, data released by AMFI, the fund industry trade body showed.
As a result, the monthly flows through the SIP route jumped to an all-time high of Rs 23,332 crore while the total assets under management of the MF industry was almost at Rs 65 lakh crore, also a new record high, data released by AMFI, the fund industry trade body showed.
“SIP contributions reaching an all-time high…in July 2024 reflects the growing financial discipline among retail investors, helping them build wealth systematically over time,” said Venkat Chalasani, chief executive, Amfi.Although equity funds recorded a lower net inflow in July at Rs 37,113 crore compared to Rs 40,608 crore in June, it was 41st consecutive month of net inflows for these schemes. Debt funds too recorded robust net inflows, at nearly Rs 1.2 lakh crore.