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Equity mutual fund inflows more than double to Rs 8,637 crore in June

Smallcap funds continue to be in demand, net inflows surge to 66 percent month-on-month to Rs 5,471.75 crore in June

BSE Sensex has risen by around 7 percent since the start of the year, while the index has gained 0.7 percent in June this year.

Inflows into open-ended equity mutual funds (MFs) jumped 166 percent to Rs 8,637 crore in June amid a steady rise in the stock markets, the Association of Mutual Funds in India (AMFI) data has shown.

This is the 28th straight month when equity inflows have remained positive.

The inflows into equity funds have come on the back of the Indian market making a decent recovery from March onwards, with the Sensex gaining around 7 percent. The index moved 0.7 percent higher in June.

The investments via systematic investment plans (SIPs) inched lower to Rs 14,734 crore in June. Inflows via SIPs had hit a fresh record high of Rs 14,749 crore in May.

In the equity segment, smallcap funds continued to be in demand as net inflows surged 66 percent month-on-month to Rs 5,471.75 crore in June.

Value or Contra Fund catgeory also saw net inflows of Rs 2,239.08 crore duirng June against Rs 582.21 inflows in May.

However, debt fund inflows plunged into the negative to Rs 14,136 crore in June against Rs 45,959 crore inflows in May 2023.

In the debt category, liquid funds turned negative as they saw net outflows of Rs 28,545.45 crore during the month. Further, Ultra Short Duration Fund also saw net selling of -Rs 1,886.57 crore during the month.

Inflows into equity mutual funds slumped by 50 percent in May to Rs 3,240.30 crore as investors took some money off the table.

The May equity inflows have been the lowest since November 2022, when the number stood at around Rs 2,500 crore.

Overall, the open-ended mutual funds saw net inflows of Rs 1,295.83 crore in June.

Overall, the total assets under management (AUM) of open-ended mutual funds during June hit Rs 44.13 trillion against Rs 42.90 trillion in May.

“June net numbers were a tad higher than May. Some profit booking at higher levels to maintain asset allocation is not ruled out but investors continue to keep investing through SIPs and STPs,” said Manish Mehta, National Head and Sales, Marketing & Digital Business, Kotak Mahindra Asset Management Company.

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