City
Epaper

Mutual funds SIPs garnered Rs 13,306 crore in November

By IANS | Updated: December 9, 2022 16:50 IST

Chennai, Dec 9 The Indian mutual fund raised about Rs 13,000 crore from systematic investment plans (SIP), but ...

Open in App

Chennai, Dec 9 The Indian mutual fund raised about Rs 13,000 crore from systematic investment plans (SIP), but the growth and equity funds saw a reduced net inflow of about Rs 2,258.35 crore last month, the Association of Mutual Funds in India (AMFI) said.

The 26 new schemes launched by several fund houses last month had mobilised a total sum of Rs 7,199 crore.

According to the AMFI, the net inflow from SIPs stood at about Rs 13,306 crore last month.

"These trends reflect sign of maturity in Investors mindset. SIP contribution remaining above Rs 13,000 crore indicates better awareness among retail investors about long-term orientation of equity investments and wealth creation opportunities from India's growth trajectory," said Akhil Chaturvedi, Chief Business Officer, Motilal Oswal Asset Management Company.

He said the investors now have an understanding of seeing short term volatility as a part and parcel of equity investing.

"Instead of reading too much into month on month dip in net equity inflows, the heartening thing to note is that net equity inflow has remained relatively resilient and investors are willing to look past short term trends and instead focus on long term fundamentals," Chaturvedi added.

"India being the best performing large market year to date in dollar terms, FIIs have been booking profits but Domestic Flows through SIPs are at life time highs which reflects the growing maturity and confidence of the Domestic Investors for more than a year now," said S.Ranganathan, Head - Research, LKP Securities.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: Akhil chaturvediindiachennaiAmfiIndiUk-indiaAssociation of mutual funds in indiaRepublic of indiaIndia indiaGia indiaMadras mission
Open in App

Related Stories

National‘Question Kunal Kamra In Chennai’: Bombay HC To Police; Grants Protection From Arrest

MumbaiViral Sighting of Tesla Cybertruck Near Mumbai Stirs EV Enthusiasm (Photos)

NationalGold Price on April 22: Rate for 10 Grams of Yellow Metal Hits All-Time High Ahead of Akshaya Tritiya

NationalChennai: Man Saves Schoolboy from Electrocution in Waterlogged Street; Video Goes Viral

NationalPM Narendra Modi Discusses Tech and Innovation Collaboration With Elon Musk

International Realted Stories

InternationalTaiwan defends medical tourism amid probe into illegal entry of Chinese nationals

InternationalUNSC asks all countries to cooperate in bringing Pahalgam terrorists, backers to justice

InternationalProlonged heatwave to grip Pakistan starting today

InternationalPakistan: Protesters hold ground over canal row, reject official promises

InternationalPope Francis’ funeral today; world leaders arrive in Vatican to pay last respects