The strong inflows in new fund offers helped equity mutual funds (MFs) to log a staggering net investment of ₹22,583 crore in July, making it the fifth consecutive monthly infusion, amid a stock market rally.
The net inflow stood at of ₹5,988 crore in June, as per data from the Association of Mutual Funds in India (AMFI).
“RBI’s accommodative stance, healthier earnings growth, vaccination-driven containment of the pandemic and liquidity is driving equity markets to historic highs,” said N. S. Venkatesh, CEO, AMFI. “Taking cue, retail investors too are participating in the equity rally,” he added.
(With inputs from Lalatendu Mishra in Mumbai)
