Equity MF inflows jump 22% in Oct, SIP hits new high

Net inflows into equity-oriented schemes surged 22% to ₹41,887 crore in October, up from ₹34,419 crore in September, according to latest AMFI data. The growth was driven by strong inflows into large-cap, mid-cap, and flexi-cap funds. Flows through the systematic investment plan (SIPs) hit an all-time high of ₹25,322 crore in October 2024, up from ₹24,508 crore in September. The number of SIP accounts also reached a record 10.12 crore in October, compared to 9.87 crore in September.

Large-cap funds saw the most significant growth, with inflows rising 95% to ₹3,452 crore from ₹1,769 crore the previous month. Sectoral and thematic mutual funds recorded the highest inflows at ₹12,278 crore, although this was a 7% decline from ₹13,255 crore in September.

Mutual fund inflows turned positive in October, reaching ₹2.39 lakh crore, a sharp recovery from the outflows of ₹71,027 crore in September. This marks the highest inflow into open-ended schemes in the past six months, since April. The surge was largely driven by positive flows into income/debt-oriented and other schemes, including index funds, following September's outflows, along with strong growth in hybrid and equity schemes.

Hybrid schemes saw the sharpest rise, with inflows nearly quadrupling to ₹16,863 crore in October, up from ₹4,901 crore in September. However, this figure remains below July’s levels, despite strong inflows into balanced and aggressive hybrid schemes. Income and debt-oriented schemes saw net inflows of ₹1.57 lakh crore, recovering from net outflows of ₹1.13 lakh crore in September. Other schemes, including ETFs, fund of funds, and index funds, grew to ₹23,428 crore, driven by record inflows into ETFs, which surged nearly six-fold from ₹1,614 crore in September to ₹15,403 crore in October.

In October 2024, 29 new schemes were launched, all under the open-ended category, raising a total of ₹ 6,078 crore. The average assets under management for October 2024 stood at ₹ 68.50 lakh crore, up from ₹68 lakh crore in September 2024.

“The industry’s robust growth is reflected in our achieving an all-time high AUM of ₹67.26 lakh crore, alongside the historic milestone of retail folios crossing 17.23 crores. The continued surge in SIP accounts, now exceeding 10.12 crores, along with a record monthly SIP contribution of ₹25,322.74 crores, demonstrates the growing preference for disciplined investing among Indian investors,” says Venkat Chalasani, Chief Executive, AMFI.

“These milestones reinforce our commitment to making mutual funds the cornerstone of wealth creation for every Indian investor, as we continue to build a more financially inclusive nation,” Venkat adds.