India invested Rs 34,697 crore in equity mutual funds this May

India invested a record Rs 34,697 crore in equity mutual funds during the month of May this year, which marks a growth of 83.42 per cent, according to a report by the Association of Mutual Funds of India, or AMFI.

This was the first time that net inflows into equity mutual funds crossed the Rs 30,000 crore mark within a month, and May’s investment streak beat the previous high of Rs 28,463 crore, recorded in March 2022, the AMFI report said. The month of April had seen a low with equity mutual funds garnering Rs 18,917.08 crore as investment, which marked a drop of 16.42 per cent.

SMALL & MID-CAP FUNDS THRIVED, SIP SOARED

Small-cap and mid-cap funds performed impressively, too. While net inflow for small-cap funds in the month of May was around Rs 2,724.67 crore, mid-cap funds did well, too, raking in Rs 2,605.70 crore, the report said.

Systematic investment plans, or SIP, hit a record high in the month of May this year. The total SIP investment in the month was Rs 20,904 crore, while the figure stood at Rs 20,371 crore in April.

Aiding net investment into open-ended equity funds, which give investors the liberty to buy or sell any time, were thematic and sectoral funds that witnessed net inflows worth Rs 19,213.43 crore in May.

LARGE-CAPS STRUGGLED, MARKETS WERE FLAT

On the other hand, large-cap funds hardly attracted investors, drawing a net investment of just Rs 663.09 crore in May, according to the AMFI report. Meanwhile, the month of May 2024 saw the markets behave flatly, with the NSE Nifty and the BSE Sensex tending to dip by 1 per cent. During the month, net inflows also saw a fall in the debt instrument or fixed income segment to Rs 42,294.99 crore, marking a 77.73 per cent drop.