Mutual funds received around Rs 7,900 crore of assets through systematic investment plans (SIP) in October, 42 per cent higher than last year.
SIP inflows stood at Rs 7,727 crore in the preceding month.
The upward trend came despite sustained selling pressure in domestic equity markets during September and October. The BSE Sensex fell 6.44 per cent in September and 5 per cent in October.
Domestic funds saw net inflow of Rs 35,529 crore in October compared to outflow of over Rs 2 lakh crore in September. Net inflow was around Rs 51,000 crore in October 2017.
“We witnessed a good number in October as compared to September,” said AMFI CEO N S Venkatesh.
The equity story was intact as funds witnessed an inflow of Rs 15,000 crore whereas income funds saw a net outflow of Rs 37,642 crore.
Equity and arbitrage schemes received inflows of Rs 11,422 crore and Rs 2,161 crore in October, respectively, whereas ELSS received an inflow of Rs 1,200 crore last month.
Asset under management jumped around 4 per cent year-on-year to Rs 22,23,560 crore in October against Rs 21,41,346 crore in the same month last year. The BSE Sensex advanced 3.70 per cent in the past one year.
Retail segment grew 14 per cent YoY on AUM basis to Rs 9,73,676 crore in October 2018 against Rs 8,55,449 crore in October 2017. “Retail story is showing resilience and then the overall AUM growth,” said Venkatesh.
The total number of folios increased 25 per cent YoY to 790.31 lakh crore in October 2018 from 631.65 lakh crore in the same month last year. October was also the 53rd consecutive month that saw a jump in the number of accounts. Number of folios increased by 11,45,000 folios on a month-on-month basis.
Retail folios grew by 29 per cent YoY. Of the 11,45,000 folios, 10,59,000 folios came from the retail segment in October.
“Mutual fund industry has shown resilience despite some volatility in the past few months. The retail flow is robust and strong. 90 per cent of the flow is going into the equity and rest in debt,” said Venkatesh.
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