Investors favoured thematic and sectoral funds in March as they invested Rs 3,928 crore in these schemes.
Almost all the categories in the equity segment witnessed positive inflows. That said, multicap funds and focused funds struggled, along with largecap schemes.
Largecap schemes, which have struggled to generate alpha and beat the benchmark in the past year, saw muted inflows worth Rs 911 crore.
According to a report by S&P Dow Jones Indices, in the year 2022, over 88% of Indian equity largecap equity mutual funds have underperformed the benchmarks.
Inflows to dividend yield funds, which invest in high dividend-paying stocks, were robust at Rs 3,715 crore.
Inflows through SIPs crossed Rs 14,000 crore mark for the first time in the month of March as against Rs 13,686 crore in February."The record SIP inflows reinforce our belief that domestic investors continue to have a high level of confidence in the Indian growth story and also in mutual funds as an effective vehicle for wealth creation," said G Pradeepkumar, CEO, Union AMC.
"From a low of about Rs 2,250 crore in November, the net inflows into equity funds have been steadily increasing every month, which augurs well for the future of the equity markets," Pradeepkumar said.
In the debt category, schemes saw massive outflows of Rs 56,884 crore in March, driven by outflows in liquid funds to the tune of Rs 56,924 crore.
“Change in taxation led to encouraging flows in the fixed-income category in the last week of March. Investors continue to believe in the long-term growth story and continue to add investments through SIPs and lumpsum," said Manish Mehta, National Head and Sales, Marketing & Digital Business, Kotak Mahindra AMC.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
SIP inflows hit all-time high in March, cross Rs 14,000 crore mark for first time - Economic Times
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