Equities continue to see outflows while debt schemes and corporate bond funds saw the biggest inflows in October in more than a year, data from the Association of Mutual Funds in India (AMFI) showed.
The assets under management (AUM) saw a 5 percent rise to Rs 28.2 lakh crore MoM, according to the data. The average AUM for October 2020 was Rs 28.33 lakh crore due to a rise in retail SIP contribution and a surge in net flows in overall debt schemes.
The MF industry witnessed an overall positive flow at Rs 98,575.96 crore in October 2020.
During October 2020, MF SIP accounts grew to 3.37 crore, leading to a rise in monthly SIP contribution to Rs 7,800 crore, compared to Rs 7,788.37 crore in September 30, 2020, and total SIP AUM rising from Rs 3,35,571.57 crore as on September 30, 2020 to Rs 3,42,018 crore as on October 31, 2020.
Open-ended equity schemes overall, saw an outflow of Rs 2,724.95 crore, while the categories like large and mid-cap fund saw positive flows of Rs 256.74 crore and sectoral/thematic funds witnessed net flows of Rs 2,214.67 crore due to two NFOs during October 2020.
The outflow significantly moderated for the hybrid scheme category at Rs 1,681.87 crore for October 2020, as compared to Rs 4,219.01 in September 2020 and Rs 4,819.45 crore for August 2020.
The Gold ETFs and FoF categories continued to witness net inflow of Rs 384.21 crore and Rs 337.96 crores during the month.
On the debt side, a surge in the net flows in debt schemes during October 2020 was driven by liquid, money market, corporate bond fund, short duration, ultra-short duration, low duration and banking and PSU fund categories.