Total net inflows for the mutual fund industry as a whole amounted to Rs 23,604.92 crore last month against a net outflow of Rs 69,852.94 crore in June 2022, AMFI said.
According to AMFI, net inflows for equity funds last month was Rs 8898.25 crore lower than Rs 15,497.76 crore recorded in June 2022.
As of July 31, the average net assets under management (AUM) of the sector stood at Rs 37,74,802.90 crore against the amount of Rs 35,64,090.10 crore on June 30.
“July appears to be a month where investors took some profits as markets rose, net sales in equities plummeted to Rs 8,898 crore versus Rs 15,497 crore, momentum has declined in recent months as markets corrected, but July was a sharp decline and if we didn’t factor in the SIP numbers, we might have seen some actual negative net sales in July,” says Akhil.
According to him, even the hybrid category has slowed down with both a drop in gross sales and higher repayments.
“We see the markets recovering and
ALSO SEE :
Rise in nighttime temperature can increase your risk of death sixfold; study warns
Supreme Court issues notice to center in plea for measures to contain ‘population explosion’