In the previous month, the equity schemes saw net inflows of Rs 22,233 crore, including Rs 2,404 crore pocketed by tax-saving MF schemes, as per the data released by the Association of Mutual Funds in India on Friday.
In August, equity MFs had seen net inflows of Rs 20,362 crore. Two straight months of sharp inflows belie talks that the high tally for August was a one-off event. Despite a relatively slow start, the monthly inflow tally now stands at Rs 11,500 crore for 2017.
Most of the inflows into equity MFs come from individual investors, according to industry players. Most retail clients are putting in money into equity schemes through the so-called systematic investment plans (SIPs), which involves investing a fixed sum every month.
Total assets under management (AUM) for September stood at Rs 20.4 lakh crore compared with Rs 20.6 lakh crore at the end of August.
The high inflows into equity MFs have provided a counterbalance to the huge FII selling. Since August, overseas investors have pulled out close to Rs 20,000 crore from the domestic market.
Domestic MFs have provided counter-buying worth over Rs 30,000 crore during the same period. The markets, however, have more or less remained unchanged.
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