Rs 40,000 cr added to equity MFs in September quarter

The inflow pushed the asset base of equity mutual funds (MFs) to Rs 12.8 trillion by September-end, from Rs 11.1 trillion at the end of June, data with the Association of Mutual Funds in India (Amfi) showed.

As per the data, the equity category witnessed flows to the tune of Rs 39,927 crore in September quarter, as compared to an inflow of Rs 19,508 crore in the June quarter.

Equity mutual funds have been witnessing continuous inflows since March. Prior to this, equity schemes had consistently witnessed outflows for eight months from July 2020 to February 2021.

“Consistent equity inflows indicate positive sentiment among investors on the Indian equity market as the economy gains momentum, businesses rebound from pandemic disruption, abundant liquidity in the financial system and government’s supportive stance aiming at speedy economic recovery,” Mohit Nigam, Head - PMS, Hem Securities, said.