Investments in equity mutual funds fell by nearly 14 percent in October to Rs. 32,994 crore, while in September it was Rs. 38,306 crores. The industry organization Association of Mutual Funds in India (AMFI) gave this information on Wednesday. This is the 60th consecutive month of net inflows in the equity category. The Association of Mutual Funds in India said that as on October 31, total assets under management under equity schemes stood at Rs. 37.14 lakh crores. The main reason for the fall in investment was the fall in the market. Despite market volatility, investment in equity mutual funds rose by over 31 percent in September compared to August.
The number of people doing SIPs has decreased in October
Inflows through Systematic Investment Plan (SIP), the preferred retail investor, also saw a slight dip in October. It was Rs. 32,490 crores down to Rs. 32,160 crore has come up. The number of accounts contributing to SIP fell from 10.06 crore in September to 10 crore in October. AMFI Chief Executive Officer (CEO) Venkat Chalasani said market volatility may have impacted investment flows, but factors such as increased valuations of Indian stocks by foreign brokerage firms and falling crude oil prices are giving positive signals. He said strong quarterly results from companies and growth in loans from banks are also positive for the future, as they indicate the strength of underlying activities in the economy.
Invest in gold and silver ETFs
Foreign institutional investors in the Indian stock market in October poured Rs. 34,843 crore in net sales. Pointing to this, Chalsani said that most of the investors are continuing their SIPs because of their faith in the long-term prospects of the Indian economy. In October, exchange traded funds (ETFs) of both gold and silver traded at Rs. More than 3,000 crores were invested. According to Amfi data, October saw a total of 28 new fund offerings (NFOs) across all categories, through which Rs. 3,829 crore was raised.
