The mutual funds space seems to be on a spurt with Systematic Investment Plans (SIP) posting a record Rs 10,351.33-crore monthly contribution from four crore folios as of September 30, 2021.
The record rally in SIP contributions indicates that “investors are reposing trust and the industry is headed in the right direction”, according to Amfi monthly review.
The SIP folios that were opened this month stood at 26 lakh, with liquid (Rs 48,379 crore), ultra-short duration (Rs 10,908 crore), and low duration funds (Rs 16,609 crore) registering a significant outflow. Payment of advance taxes was perhaps one of the major factors driving the rally.
While equity funds saw a net inflow of Rs 8,677.41 crore, ELSS funds saw a significant outflow of Rs 872 crore. Among hybrid schemes, arbitrage funds saw a major outflow of almost Rs 3,000 crore along with balanced advantage funds, which saw inflows worth Rs 5,000 crore. Even index funds (Rs 3,104 crore) and other ETFs (Rs 7,660 crores) saw massive inflows of funds.
September was a month of huge outflows for debt-based funds at Rs 63, 910 crore and a significantly better month for equities, which saw funds around Rs 8,677 crore coming in. At Rs 4,542.90 crore, Flexi-cap funds stood distinctly among other equity-based funds.
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