April 14, 2023
admin
SIPs stood at over Rs 1.5 trillion in 2022-23
Equity mutual fund flows at 12-month high of Rs 20,500 crore in March
The total investment through SIPs stood at over Rs 1.5 trillion in 2022-23. N S Venkatesh, chief executive officer, Amfi, said the strong flows through SIPs showcase resilient investor behaviour.
“SIP inflows continue to soar, breaking the record on a month-on-month basis. It would not be overkill to say that the retail investor is the hero of the markets. The spike in investors witnessed in the post-pandemic period, despite volatility due to global geopolitical reasons and inflation, is also a cue to resilient investor behaviour,” he said.
In 2021-22, mutual funds (MFs) added over 4 million new investors, taking the total unique investor count to 37.7 million.
Net investments in active equity schemes rose to a 12-month high of Rs 20,500 crore in March. The robust tally was underpinned by investments through the systematic investment plan (SIP) route, which breached the Rs 14,000-crore mark for the first time, reveals data released by the Association of Mutual Funds in India (Amfi).
Industry players said investors stepped up buying as valuations turned attractive, with the benchmark S&P BSE Sensex and the National Stock Exchange Nifty indices dropping to their lowest levels in five months. From March lows, the indices have now gained nearly 6 per cent.
March also marked a change in fortunes for most debt funds: inflows surged multifold as investors rushed to invest before the change in taxation regime came into effect in April.
Among active debt schemes, corporate bond funds received the highest net inflows at Rs 15,600 crore, followed by banking and public-sector undertaking funds with net inflows of Rs 6,500 crore.
Notwithstanding the spike in flows into select schemes, debt funds registered an overall net outflow of Rs 57,000 crore in March.
Outflows are seen in liquid and other shorter-horizon debt schemes at the end of every quarter as companies make redemptions to meet their tax liability.
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