Indian equity mutual funds experienced a 50% drop in inflows in May, falling to their lowest level since November 2022, according to data from the Association of Mutual Funds in India (AMFI). However, record contributions via systematic investment plans (SIPs) offset the decline in equity mutual fund inflows. SIP contributions rose 7.44% month on month to a record of INR147.49bn ($2bn), with over 1.05 million new SIP accounts opened in May. Small-cap funds garnered most of the investments for the eighth straight month at a record high of INR32.83bn, while large-cap funds experienced outflows worth INR13.62bn. Despite the decline in inflows, the Nifty 50 index rose by 2.6% in May, due to steady foreign inflows in domestic equities.
India Mutual Fund Inflows Dip by Half in May; SIP Contributions Reach All-Time High according to Industry Data
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