Equity mutual fund inflows fall 5% to Rs 38,440 crore in April; SIP contributions also ease

Net inflows into equity-oriented mutual fund schemes declined 5 per cent month-on-month to Rs 38,440 crore in April, while contributions through Systematic Investment Plans (SIPs) also moderated, according to data released by industry body AMFI on Monday, PTI reported. Equity mutual funds had attracted net inflows of Rs 40,450 crore in March. Monthly SIP contributions slipped to Rs 31,115 crore in April from Rs 32,087 crore in the previous month. Despite the moderation in equity inflows, the mutual fund industry as a whole recorded a strong net inflow of Rs 3.22 lakh crore in April, reversing the Rs 2.4 lakh crore outflow seen in March. The overall inflows were largely driven by debt mutual funds, which saw net investments of around Rs 2.5 lakh crore during the month. The surge in inflows pushed the industry’s total assets under management (AUM) to Rs 81.92 lakh crore at the end of April from Rs 73.73 lakh crore in March. According to the data, equity inflows in April were still significantly higher than the Rs 25,978 crore recorded in February. Among equity categories, flexi-cap funds led inflows with Rs 10,148 crore, followed by small-cap funds at Rs 6,886 crore and mid-cap funds at Rs 6,551 crore. Large-cap funds also saw inflows of Rs 2,525 crore during the month. While most equity categories remained in positive territory, dividend yield funds and equity-linked savings schemes (ELSS) witnessed marginal outflows, largely due to profit booking and portfolio rebalancing. Meanwhile, gold exchange-traded funds (ETFs) attracted Rs 3,040 crore in inflows in April, higher than the Rs 2,266 crore recorded in March.