Equity funds see Rs 34,697 cr inflows in May

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Equity mutual funds saw a stunning growth in inflows in May, touching a record high of Rs 34,697 crore. This figure is a 83 per cent jump from April. The inflow is May is a result of the contributions from thematic funds and makrket corrections that gave buying opportunity to investors.

This also the 39th successive month of net inflows in equity funds, data from the Association of Mutual Funds in India (AMFI) showed.

Investments under the Systematic Investment Plan (SIP) rose to Rs 20,904 crore in May, from Rs 20,371 crore in April, making it the second month of inflows topping Rs 20,000 crore.

Overall, the mutual fund industry has witnessed an inflow of Rs 1.1 lakh crore in the month under review as compared to Rs 2.4 lakh crore in April. The inflow was both, in equity as swell as debt, schemes.

With these inflows, the industry’s net assets under management rose to Rs 58.91 lakh crore in May-end from Rs 57.26 lakh crore in April-end.

As per the data, equity-oriented schemes witnessed an inflow of Rs 34,697 crore in May, way higher than Rs 18,917 crore in April.

Except for the focused and equity-linked saving schemes (ELSS) categories, all the other categories witnessed good net inflows.

Sector/thematic funds continue to attract investor attention with the highest net inflows of Rs 19,213 crores during the month. This was largely owing to the new fund offering (NFO) of the HDFC Manufacturing Fund, which collected around Rs 9,563 crore.

The categories which witnessed net outflows are short duration, medium duration, dynamic bond, credit risk, gilt fund and floater fund. Besides, hybrid category schemes attracted Rs 17,991 crore and index funds and other ETFs collectively garnered Rs 15,180 crore. With inputs from PTI