Equity MFs inflow nears 2-yr high at Rs 26,866 cr
As we delve into the Feb 2024 data, we observe that there is a surge in SIP accounts, totalling 8.20 crore with 49.79 lakh new SIP registrations.
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NEW DELHI: Equity mutual funds continued their positive momentum with inflow of Rs 26,866 crore in February, making it the highest monthly infusion in 23 months, driven by massive interest for thematic funds and launch of new fund offerings (NFOs).
Also, the latest flow was about 23 per cent higher than inflows of Rs 21,780 crore in January.
Moreover, monthly Systematic Investment Plan (SIP) contributions reached a fresh high of Rs 19,186 crore, surpassing January’s Rs 18,838 crore, according to the data released by Association of Mutual Funds in India (AMFI) on Friday.
“As we delve into the Feb 2024 data, we observe that there is a surge in SIP accounts, totalling 8.20 crore with 49.79 lakh new SIP registrations. This underscores investors’ unwavering commitment to disciplined wealth accumulation,” Venkat Chalasani, chief executive, AMFI, said.
Overall, the MF industry witnessed an inflow of Rs 1.2 lakh crore in February, almost similar to the one seen in the preceding month. The huge inflow was driven by contributions from debt-oriented schemes at Rs 63,809 crore, equity schemes at Rs 26,866 crore and hybrid schemes at Rs 18,105 crore.
The strong inflow has pushed the net assets under management to Rs 54.54 lakh cr at Feb-end from Rs 52.74 lakh cr in the preceding month.