New Delhi: Investors have pumped over Rs 35,500 crore into various mutual fund schemes in October, after pulling out more than Rs 2.3 lakh crore in the preceding month, amid a correction in equity markets.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

With the latest inflow, total infusion in mutual fund (MF) schemes reached to about Rs 81,300 crore in the first seven months (April-October) of the current fiscal, the latest data with Association of Mutual Funds in India (Amfi) noted.

"The industry showed resilience despite the recent market events and the ensuing volatility in both debt and equity segments," Amfi CEO NS Venkatesh said.

According to the data, investors have poured in a net of Rs 35,529 crore in MF schemes last month as compared to a pull out of Rs 2.3 lakh crore in September, which market participants attributed to nervousness among corporate investors following the IL&FS default.

The latest inflow has been mainly driven by contributions from equity and equity-linked saving schemes. Equity and equity-linked schemes attracted Rs 12,622 crore, besides, Rs 55,296 crore was invested in balanced funds.

Watch this Zee Business video here:

In contrast, income funds saw a pull out of over Rs 37,600 crore and gold exchange-traded funds (ETFs) continued to see net outflow of Rs 16 crore. The BSE's benchmark index Sensex corrected nearly 5 per cent last month.

Overall, the inflow has also helped in pushing the assets under management of the 42 player mutual fund industry to Rs 22.23 lakh crore at the end of October from Rs 22.04 lakh crore in September-end.