Inflows into equity mutual funds rose after four months even as volatility gripped the stock market.
Net investments into equity and equity-linked schemes more than doubled over the previous month to Rs 14,099.7 crore in September, according to data released by the Association of Mutual Funds in India. That’s the nineteenth straight month of inflows into such stock plans.
In September, the S&P BSE Sensex and the NSE Nifty 50 fell 2.28% and 2.56%, respectively.
Monthly contributions into systematic investment plans rose for the second straight month, hitting an all-time high of Rs 12,976.34 crore in September.
The SIP accounts grew 12.2 lakh to 5.83 crore in September.
Highlighting that India continues to remain the highest growing country in the world, NS Venkatesh, chief executive officer at AMFI, said it was “definitely” the right time to stay invested in equity in India.
“We should see more equity flows coming in,” Venkatesh said during a conference call.
