Sumary of In a 9-month first, equity MF flows turn positive in March:
- Despite uncertainties due to the continuing Covid-19, inflows into equity mutual funds turned positive for the first time in the last nine months..
- According to data released by the Association of Mutual Funds in India (AMFI), there was a net inflow of ₹9,115 crore into equity mutual funds in March compared to an outflow of ₹4,497 crore logged in the previous month on the back of a sharp jump in monthly systematic investment contribution..
- Sectoral and tax- saving schemes registered the highest inflows of ₹2,009 crore and ₹1,552 crore while mid-cap and flexi-cap mopped up ₹1,503 crore and ₹1,386 crore, respectively..
- Investments through SIP Investments through SIPs hit pre-Covid levels in March rising to ₹9,182 crore touched rising from ₹7,528 in February..
- Kaustubh Belapurkar, Director, Morningstar India, said, “It is too early to say if this trend is here to stay but it seems equity investors who were waiting on the sidelines for a market correction have started making allocations taking a long-term view on equities.”.
- Debt funds logged outflows of ₹52,528 crore as corporates and banks withdrew funds to meet their annual tax commitment..
- Yearly trend Gautam Kalia, Head (Investment Solutions), Sharekhan said, “There has been a significant redemption pressure on debt funds also from retail clients given the reduction in short term returns.”.
- Overall, the Assets Under Management (AUM) of mutual funds were down a tad at ₹31.42-lakh crore in March against ₹31.64-lakh crore in February…