Business

July inflows into equity MFs at Rs 22K cr

Mumbai: Monthly inflows into equity mutual funds climbed to two year high at Rs 22,583.5 crore  and the total assets under management  of the mutual fund industry hit Rs 35.31 lakh crore for the first time due to rising retail participation and rally in the equity market, data released by Association of Mutual Funds in India (Amfi) showed.

The inflows in growth/equity oriented schemes jumped from lows of  Rs 5,988 crore in June to Rs 22,583.52 crore in July while the other equity linked category of hybrid schemes also saw inflows of Rs 19,481 crore compared to 12,361 crore in June. Flexi cap funds  in the equity oriented category received inflows of Rs 11,508 crore while arbitrage fund in hybrid category received inflows of Rs 14,924.23 crore.

Debt funds category also received combined inflows of Rs 73,694 crore mostly in overnight funds (Rs 31,739 crore) and money market fund (Rs 20,910 crore). Other schemes received inflows of Rs 10,084 crore.

Source:

www.deccanchronicle.com

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