Net flows into equity mutual funds witnessed a four-month high level of Rs 11,615 crore in November on a strong systematic investment plan (SIP) book despite market volatility.
This was also the ninth consecutive monthly net inflow, according to the Association of Mutual Funds in India (AMFI) data released on Thursday.
In comparison, equity mutual funds witnessed net inflows to the tune of Rs 5,215 crore in October, Rs 8,677 crore in September and Rs 8,666 crore in August.
The month of November saw the highest monthly net infusion since July, when equity-oriented mutual funds witnessed a net inflow of Rs 25,002 crore.
Equity schemes have been seeing net inflows since March this year. The segment has received a net inflow of Rs 85,381 crore during this period, highlighting the positive sentiments among investors.
Prior to this, such schemes had consistently witnessed outflows for eight months from July 2020 to February 2021, losing Rs 46,791 crore in the process.
Overall, the mutual fund industry registered net inflows of Rs 46,165 crore in November as compared to Rs 38,275 crore in October.
The inflow pushed the assets under management (AUM) of the industry to an all-time high of Rs 38.45 lakh crore at November-end, from Rs 38.21 lakh crore at October-end.
AMFI Chief Executive N S Venkatesh attributed the impressive AUM to net flows and continued robust increase in the monthly systematic investment plan (SIP) contribution.
"Despite rising uncertainty owing to feared third wave of the pandemic, and extreme equity market volatility, retail investors continue to benefit and hence also stick to displaying trust on the disciplined SIP mode of savings in mutual funds," Mr Venkatesh, said.