Mumbai: Increasing investor interest in mutual funds helps assets managed by MFS India up to a record high of Rs 37.3 lakh crore in October, up from RS 36.7 lakh Crore in September and Rs 28.2 lakh crore a year earlier.
During that month, contributions through the route of a systematic investment plan (SIP) also rose to the highest new record at Rs 10,519 Crore, data from Amfustrian trading indicates.
According to the Chief Executive of Amfi NS Venkatesh, a positive stream of net in October in all MF open schemes categories – both debt, equity, hybrid, oriented solutions, indices, funds or ETFs – coupled with sustainable buoyancy in the SIP stream, which is in historic high , Increase Industrial MF Industrial Assets as a whole to the level of record.
During October, net inflows through all debt schemes along nearly rs 13,000 crore, while through the equity scheme of Rs 5,215 Crore.
However, because the market floated at a high-level record, investors also showed their preferences for hybrid schemes, industrial players said.
During that month, the inflow of clean through a hybrid scheme was at Rs 10,437 Crore.
Increasing Investor Preferences for passive investment can be seen from the net entry stream of Rs 10,759 Crore, they said.
AMFI data also shows that investors take money from closed schemes and Elss, with this month’s number at Rs 1,082 Crore and Rs 136 Crore.
Data from further industrial trade agencies shows that the average AUM at the end of October was at the RS 38.2 lakh Crore, another highest record.
It also shows that the number of MF Folio is at 11.4 crore while the appropriate number in the retail scheme is at 9.3 crores, both of which are high in all time.
The number of SIP accounts at the end of October was 4.6 crore, up from almost 4.5 crore a month ago.