Equity mutual funds saw net inflows of over Rs 10,000 crore in May as investors overlooked the second Covid- 19 wave to focus on corporate earnings and better growth ahead.
“This kind of consistent numbers look favourable for the mutual fund industry and for the economy as a whole as it highlights investor’s confidence and normalcy taking its hold back in the economy,’’ said Mohit Nigam, head, PMS- Hem Securities.
Multi-cap funds saw the largest net inflow at Rs 1,954 crore. This was followed by a net inflow of Rs 1,368 crore in mid-cap funds, Rs 1,169 crore in focussed funds, Rs 1,137 crore in sectoral or thematic schemes and Rs 1,130 crore in flexi cap funds.
Data released by the Association of Mutual Funds in India showed that net inflows into these schemes stood at Rs 10,083 crore in May after Rs 3,437 crore in April and Rs 9,115 crore in March. Barring equity-linked saving schemes, which saw a withdrawal of Rs 290 crore, all the equity schemes have seen inflows last month.
