The inflows into mutual funds through systematic investment plan touched yet another high of ₹32,490 crore last month against ₹32,297 crore logged in August even as the free fall in equity markets continued unabated on global headwinds.
The overall equity inflows touched a 5-month high at ₹38,306 crore (₹29,328 crore) as the investors pumped in more money to average out their investments, according to the Association of Mutual Funds in India data released on Monday.
Interestingly, small-cap funds received the highest inflow of ₹9,039 crore while mid-cap attracted ₹7,835 crore.
Overall, assets under management of the industry dipped 5 per cent to ₹82.64 lakh crore against ₹87.08 lakh crore in August due to mark-to-market loss and outflow of ₹1.83 lakh crore from debt funds.
Venkat Chalasani, Chief Executive Officer, AMFI, said the overall inflows into mutual funds despite the weak markets reflects investors’ confidence in the industry and economic growth prospects of the country.
While the headwinds may persist, Indian economy continues to be resilient and it has faced many such global disturbances in the past only to bounce back, he said.
The government has already clarified there will be no charges on SIP registered through UPI even as the industry has made representation to exempt charges on lump-sum investment made through UPI, said Chalasani.