Equity mutual funds witnessed an inflow of Rs 35,943 crore in November, marking a drop of 14% on a month-on-month basis, as per the data from the Association of Mutual Funds in India (AMFI) released on Tuesday.
The development comes amid heightened volatility driven by various macroeconomic factors, geopolitical events and US election results.
Despite this, it marked the 45th consecutive month of net inflows into equity-oriented funds, reflecting the growing popularity of mutual funds among investors.
As per the AMFI dats, the Mutual Fund Industry’s Net AUM stands at ₹ 68,08,101.16 crores for the month of November 2024. AUM for the month of October 2024 ₹ 67,25,614.61 crores.
Retail MF Folios, that comprise of Equity + Hybrid + Solution Oriented Schemes, also at an all-time high at 17,54,84,468 for the month of Nov 2024 as compared to 17,23,52,296 forthe month of Sept 2024.
Their AUM stood at ₹ 39,70,220 crores for Nov 2024 as compared to an AUM of ₹ 39,18,611 crores in Oct 2024.
Speaking on the development, Venkat Chalasani, Chief Executive, AMFI said, “Defying a tumultuous month in the equity market, the mutual fund industry’s assets reached a new pinnacle of Rs 68.08 lakh crore, driven primarily by robust inflows into growth-/equity-oriented schemes.”
In November, the number of new SIPs registered stood at 49,46,408 as compared to 63,69,919 in October.
The SIP AUM is at ₹ 13,54,104.70 crores for the month of November 2024 while the SIP contribution stood at ₹ 25,319.66 crores as against ₹ 25,322.74 crores in Oct 2024.
The number of SIP accounts stood at highest ever at 10,22,66,590 in November as compared to 10,12,34,212 in September.
“The unwavering monthly SIP inflows remained above Rs 25,000 crore in November, showcasing the investors’ long-term vision and commitment to their financial goals, despite the short-term market fluctuations,” Chalasani added.
The industry’s ability to attract consistent SIP flows is a vote of confidence in its ability to deliver value to investors over the long term, he said.