Local mutual funds still high on equity, March gross buys highest ever
In FY22, local funds invested Rs 1.8 lakh crore, a record annual inflow and equivalent to nearly half of the cumulative inflow in the past five years.
Synopsis
The net buying by local funds was worth Rs 22,999 crore in March taking the gross purchase-to-sale ratio to 1.22 compared with the long-term average of 1.06.
Local funds are stepping up bets on equities like never before. Their gross purchase worth Rs 1.3 lakh crore in March was the highest ever in a single month, the data from SEBI show. It surpassed the previous peak of Rs 1.2 lakh crore in March 2020 when the domestic funds raised wager disproportionately to benefit from the market meltdown during the first wave of Covid-19. The data include the exposure of domestic funds in equity funds,
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