Equity mutual funds rose 370% to ₹40,608.19 crore in June 2024, from ₹8,637.49 crore in June 2023, data released by Association of Mutual Funds in India (AMFI) show.
But after two successive months of higher inflows, MFs witnessed net outflows of ₹43,637 crore for the first time since the beginning of FY25.
Indian mutual fund sector’s net asset under management crossed ₹60 lakh crore in June 2024, a rise of ₹10 lakh crore since December 2023.
“The industry benefited from sustained flows into equity-oriented MFs, hybrid and passive funds,” said Venkat Chalasani, CEO, AMFI releasing the monthly data, adding the sector is working to foster financial well-being for all stakeholders.
Debt mutual funds witnessed a surge in outflows at ₹1.07 lakh crore with 12 out of 16 schemes registering net outflows in June 2024.
“Bond yields also rose initially and witnessed volatility amid the outcome of general elections. However, the trend reversed, and bond yields fell following a decline in U.S. Treasury yields that boosted expectations of rate cuts and supported by Indian bonds inclusion in JP Morgan Emerging Market index,” said Ashwini Kumar, Senior VP and Head Market Data, ICRA Analytics in a statement.
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