Equity mutual fund inflows at Rs6,108cr in April: AMFI

Large-cap, multi-cap and ELSS (equity linked savings schemes) saw inflows of Rs1,691cr, Rs1,240cr and Rs752cr, respectively during the month under review, AMFI data stated.

May 08, 2020 04:05 IST India Infoline News Service

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As per the Association of Mutual Funds in India (AMFI) data, the equity inflows stood at Rs6,108cr in April amid coronavirus pandemic. The mutual fund industry witnessed net inflows of Rs45,999cr across all segments.

SIP AUMs for April 2020 came at Rs2.75 lakh cr, which have risen by Rs36,096.75cr as compared to Rs2.39 lakh crores as on March 2020, whereas in April 2019 SIP AUM stood at Rs2.69 lakh cr, as per AMFI data.

The number of SIP Accounts, too, have risen as on April 2020 at 3,13,90,570 by 1,93,761 as compared to 3,11,96,809 as on March 2020.

The SIP contribution for April 2020 stood at Rs8,376.11cr as compared to Rs8,641.20cr as on March 2020 while SIP contribution for April 2019 was Rs8,238cr.

Large-cap, multi-cap and ELSS (equity-linked savings schemes) saw inflows of Rs1,691cr, Rs1,240cr and Rs752cr, respectively during the month under review, the AMFI data stated.

Speaking on April 2020 Mutual Fund data, N S Venkatesh, Chief Executive, AMFI said, ‘’It is heartening to note that despite subdued economic scenario, retail Investors are seen to be continuing with their goal-based investment discipline, displaying mature investment conduct, as seen from the month-on-month rise in retail AUMs, as also marked rise in the number of SIP accounts. Slowing redemptions in retail and overall mutual fund schemes are indicative of rising investor preference for mutual funds as long-term wealth creation.”

‘’In the prevailing scenario of low inflation, expected softer interest rate regime, MF industry would see heightened interest in fixed income schemes, especially low duration schemes,’’ Venkatesh said.

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