Monthly SIP inflows in the mutual fund industry have exceeded ₹10,000 crore mark for the first time in September. SIP in flow for the month ₹10,351.33 crore, up from ₹9,923 crore in August.
According to AMFI President NS Venkatesh, the increase in inflows occurs even when markets were at all-time highs.
The Nifty 50 index is up 51.2% over the past year at 17,895 and is up nearly 44% from its pre-pandemic. Open-ended equity funds though saw net inflows ₹8,677 crore in September, which means there could be redemption from lump sum investors. It compares the net inflow of ₹8,056.80 crore in the last month.
Redemption enhanced in equity schemes ₹25879.88 crore in September, from ₹23144.89 crore last month and ₹17686.2 crore in the same month last year.
Among equity mutual fund categories, open-ended multi-cap funds saw the highest level of inflows ₹3,569 crores. Some of these inflows may be behind New Fund Offers (NFOs).
Kotak Mahindra Asset Management Company had launched Kotak Multicap Fund in September 2021. Balanced Advantage Funds (BAFs) that invest a part of their corpus in equities also saw significant inflows ₹5,233 crores.
Debt mutual funds on the other hand saw a net outflow of ₹63,910 crore, mainly on the back of seasonal factors such as advance tax payments. The outflows were concentrated in categories like liquid funds, ultra short duration funds, low duration funds and money market funds.
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