10.4 C
London
Tuesday, September 27, 2022

Net inflow of MF shares falls sharply by 42.6% in July

Must read

Biden’s student loan cancellation plan will cost $400 billion, Congressional Budget Office estimates

WASHINGTON — President Joe Biden's plan to forgive $10,000 in federal student debt to most borrowers will cost the government about $400 billion, the...

Meta wants you to create more Instagram and Facebook accounts and jump between them easily • londonbusinessblog.com

Meta is working on making it easier for users to switch between Facebook and Instagram accounts via a new profile switching tool. Anyone using either...

Cloudflare rolls out new mobile services to secure employees’ smartphones • londonbusinessblog.com

To get a roundup of londonbusinessblog.com's biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Good morning,...

Fintech Thriday Raises $6 Million Pre-Series A Led by NAB Ventures

Thriday, a small business financial management platform, has raised $6 million in a pre-Series A. The round was led by NAB Ventures, the investment bank's...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

The month-on-month net income for equity mutual funds fell 42.6 percent to Rs 8,898.25 crore in July 2022, according to figures released by the Association of Investment Funds in India (AMFI).



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. chaturvedicChief Business Officer, Motilal Oswal AMCsaid.

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 FII although early days to say this trend will be consistent, but if it does, I hope retail investor confidence returns again,” Chaturvedi added.


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’

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Biden’s student loan cancellation plan will cost $400 billion, Congressional Budget Office estimates

WASHINGTON — President Joe Biden's plan to forgive $10,000 in federal student debt to most borrowers will cost the government about $400 billion, the...

Meta wants you to create more Instagram and Facebook accounts and jump between them easily • londonbusinessblog.com

Meta is working on making it easier for users to switch between Facebook and Instagram accounts via a new profile switching tool. Anyone using either...

Cloudflare rolls out new mobile services to secure employees’ smartphones • londonbusinessblog.com

To get a roundup of londonbusinessblog.com's biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Good morning,...

Fintech Thriday Raises $6 Million Pre-Series A Led by NAB Ventures

Thriday, a small business financial management platform, has raised $6 million in a pre-Series A. The round was led by NAB Ventures, the investment bank's...

This job seeker went viral because she printed her resume on a cake

The resume ended on a cake, but the friendship that resulted is freshly baked. Courtesy topic The pie resume that went viral on LinkedIn On September 2,...