Equity mutual funds saw a net inflow of Rs 9,115 crore in March, making it the first net infusion in nine months, data released by the Association of Mutual Funds in India (Amfi) showed on Thursday.
Equity schemes had been witnessing net outflows since July with investors choosing to book profits. In February, these schemes had seen a net outflow of Rs 4,534 crore.
Overall, the mutual fund industry witnessed a net outflow of Rs 29,745 crore across all segments during the period under review compared with a net inflow of Rs 4,090 crore in February. According to the industry body, barring multi-cap and value fund categories, all equity schemes saw inflows last month.
Gold ETFs witnessed a total net inflow of Rs 662 crore last month compared with Rs 491 crore in February.
Overall, equity schemes had witnessed an outflow of Rs 9,253 crore in January. Rs 10,147 crore in December, Rs 12,917 crore in November, Rs 2,725 crore in October, and Rs 734 crore in September, Rs 4,000 crore in August and Rs 2,480 crore in July, which was their first withdrawal in over four years.
For the entire year, N S Venkatesh, Chief Executive, AMFI said that the pandemic-impacted fiscal 2020-21 ended on a healthy note with the industry average assets under management (AAUMs) at historic high at Rs 32.17 lakh crores as on March 31, 2021, rising 30 per cent as compared to Rs 24.70 lakh crores as on March 31, 2020.
"I want to reinforce that mutual funds continue to be preferred investment vehicle to build long term goal-based wealth creation, as is reflected from the number of unique investors across mutual fund schemes increasing in the last one year, by 10 per cent from 2.08 Crore as on March 31, 2020 to 2.28 Crore as on March 31, 2021’’, he added.
Venkatesh further pointed out that yet another highlight during the year was the rising acceptance for mutual funds from Tier II and Tier III locations, with mutual fund AUM from beyond the Top 30 cities rising 54 per cent to Rs 5,35,373 crore as on March 31, 2021, as compared to from Rs 3,48,167 crore as on March 31, 2020.