New Delhi
The latest data from the Association of Mutual Funds in India (AMFI) for December 2023 indicates a positive trend in India’s mutual fund industry, particularly in the equity segment. The substantial increase in equity mutual fund inflows, reaching Rs 17,000 crore and marking a 9% rise, reflects investors’ strong confidence in the potential of the stock market, as observed by Robin Arya, Smallcase Manager & Founder of GoalFi. One notable aspect is the consistent growth in monthly Systematic Investment Plan (SIP) flows, showcasing an impressive nearly 24% Year-on-Year increase. Additionally, SIP Assets under Management (AuM) have witnessed a substantial jump of almost 37% Year-on-Year. According to Viraj Gandhi, CEO of SAMCO Mutual Fund, the commendable performances in segments such as a notable 6% rise in Nifty Small-Cap 250 and an almost 7% rise in Nifty Midcap 150 during the month have contributed to the significant net inflows in Mid and Small Cap funds. These funds attracted substantial net inflows amounting to Rs 5,250 crore, reflecting a remarkable growth of 25% on a Year-on-Year basis. This constitutes nearly one-third of the total net equity-oriented inflow for the month. Sectoral and thematic funds emerged as leaders in garnering the highest net inflows, totaling Rs 6,005 crore compared to Rs 1,965 crore in November 2023. In summary, the equity-linked schemes garnered Rs 16,997 crore in December 2023, and the SIP book for the month stands at Rs 17,610 crore, indicating a positive growth trajectory for the Indian mutual fund industry.
