Inflows into Indian equity mutual funds came in at Rs 9,575 crore in February, data from the Association of Mutual Funds in India (AMFI) showed on Friday. The mutual fund industries' assets under management dropped 0.4 per cent on a month-on-month (MoM) basis to Rs 39.46 lakh crore.

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However, the inflows into the equities mutual funds category increased to Rs 15,685.57 crore in February from Rs 12,546.51 crore in January 2023.

Meanwhile, the debt category saw an outflow of Rs 13,815.23 crore in February 2023, recording a 0.7 per cent MoM fall to Rs 12.3 lakh crore.

mutual fund schemes that are open for buying and selling at any time. There is no maturity period in such funds, which means that one can remain invested in the scheme for as long as he or she wants. While a closed ended mutual fund scheme is where investments are locked-in for certain duration. The issue can be subscribed only at the time of NFO or the new fund offer period. Redemption of units can be made only after the expiry of lock-in period.

Compared to net inflows of Rs 4,491.97 crore in January, the hybrid category had net inflows of Rs 460.32 crore in February. Conservative Hybrid Funds experienced an outflow of Rs 92.33 crore while Equity Savings Funds suffered an outflow of Rs 205.68 crore. Balanced Hybrid Fund/Aggressive Hybrid Fund received a total influx of Rs 125.36 crore, trailing Multi Asset Allocation Funds, which received a total inflow of Rs 510.51 crore.

The Open ended hybrid fund assets under management (AUM) in February stood at Rs 4.9 lakh crore, down 0.7 per cent MoM.