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In October, Indian investors showed strong confidence in mutual funds, investing a record Rs 25,323 crore through Systematic Investment Plans (SIPs), despite a turbulent stock market. This historic investment pushed the total number of SIP folios past 10 crore for the first time. SIP contributions hit this new peak just six months after surpassing Rs 20,000 crore, according to data released by the Association of Mutual Funds in India (Amfi).
Equity mutual funds recorded net inflows for the 44th consecutive month, a streak that began in March 2021. However, the October market downturn led to a reduction in assets under management for equity funds, which fell by around Rs 1.2 lakh crore to Rs 29.9 lakh crore from Rs 31.1 lakh crore in September.
Debt mutual funds also saw substantial net inflows, totaling nearly Rs 1.6 lakh crore, with liquid funds alone contributing Rs 83,863 crore. This surge bolstered the overall assets managed by the mutual fund industry to a record high of Rs 67.25 lakh crore, per Amfi’s report.
Venkat Chalasani, Amfi’s CEO, highlighted that the record-breaking monthly SIP investment and the significant growth in SIP accounts reflect a rising preference among Indian investors for steady, disciplined investment strategies. “These milestones are evidence of our dedication to positioning mutual funds as the primary vehicle for wealth creation, helping to build a more financially inclusive nation,” Chalasani said.
Among equity funds, sectoral and thematic funds led with net inflows of Rs 6,862 crore, bringing their total assets to nearly Rs 4.5 lakh crore, making them the largest subcategory within equities. Following this, small-cap and mid-cap funds saw net inflows of Rs 4,336 crore and Rs 4,263 crore, respectively, which underscores the resilience of domestic investors amidst market fluctuations, according to Akhil Chaturvedi, executive director at Motilal Oswal MF.
In the passive investment space, gold ETFs experienced a net inflow of Rs 1,961 crore, up from Rs 1,233 crore in September. Himanshu Srivastava of Morningstar Investment Research India noted that heightened global uncertainties, inflationary pressures, and geopolitical tensions have reinforced gold’s role as a stable investment option in uncertain times.
