During the month, the contribution through the Systematic Investment Plan (SIP) route also rose to a new record high of Rs 10,519 crore, data from industry trade body amphi Has shown.
According to NS Venkatesh, chief executive of AMFI, net positive inflows across all categories of open-ended MF schemes – be it debt, equity, hybrid, solution-oriented, index, fund of funds or ETFs – continued to see SIP inflows during October. Coupled with the surge, which are at a historic high, have raised the wealth of the overall Indian MF industry to record levels.
During October, the net inflow through all debt schemes was around Rs 13,000 crore, while it was Rs 5,215 crore through equity schemes. However, as the market is hovering at a record high, investors are also showing their preference for hybrid schemes, said industry players. During the month, the net inflow through hybrid schemes stood at Rs 10,437 crore.
He said the increasing preference of investors for passive investment can be seen from the net inflow of Rs 10,759 crore. The AMFI data also showed that investors were withdrawing money from close-ended and ELSS schemes, the month’s figures stood at Rs 1,082 crore and Rs 136 crore.
Data from the industry trade body showed that the average AUM at the end of October stood at Rs 38.2 lakh crore, another record high. It also showed that the number of MF folios stood at 114 million, while the corresponding number under retail schemes was 93 million, both the largest ever numbers. The number of SIP accounts stood at 46 million at the end of October, up from around 45 crore a month ago.
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