Chennai, Dec 9 (SocialNews.XYZ) 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.
Source: IANS
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