homemarket Newsdata NewsExpect SIP flows to touch Rs 9,000 crore once market revives, says NS Venkatesh of AMFI
Expect SIP flows to touch Rs 9,000 crore once market revives, says NS Venkatesh of AMFI
Inflows into equity mutual funds in August saw a growth of over 12 percent compared to July.
Total inflows crossed the Rs 9,000 crore mark with largecap and smallcap funds garnering most of the money. But, midcap funds saw a contraction of over 20 percent. Yash Jain spoke to NS Venkatesh, the CEO of the Association of Mutual Funds in India (AMFI) to find out more about the latest data.
Venkatesh said, "The total inflows is around Rs 1,02,000 crore. Out of that Rs 79,000 crore is coming from the liquid funds. Having said that I would say that essentially the equity schemes have all got good inflows. So, compared to July, the August numbers look better. So, that shows some sort of renewed interest coming into the equity side and investment is happening and it is distributed across largecap, midcap, smallcap etc."
He further added, "SIP flows are at around Rs 8,200 crore. However compared to July it is little bit less - around Rs 96 crore less. However it shows that there is a stability - above Rs 8,200 crore over the last 6-7 it has been showing that stability. It has not plateaued but it has shown good signs of resilience despite the market conditions to stay above Rs 8,200 crore. So, once the market starts showing signs of revival and moving up, the SIP flows will start touching Rs 9,000 crore and beyond Rs 9,000 crore as well."
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