Inflows into equity schemes dipped 31 per cent in September to ₹14,019 crore against ₹20,245 crore in August as investors preferred to book profit given the global economic uncertainty.

The unique investors identified by individual PAN in the industry touched a high of 4 crore, according to the Association of Mutual Funds in India (AMFI) data released on Wednesday.

Among equity schemes, large-cap funds registered an outflow of ₹110 crore last month, while all other funds recorded a positive inflow. Sectoral and small-cap funds registered the highest inflow of ₹3,147 crore (₹4,806 crore) and ₹2,678 crore, respectively, while multi-cap and mid-cap funds logged in a net inflow of ₹2,235 crore (₹3,422 crore) and ₹2,001 crore (₹2,512 crore).

G Pradeepkumar, CEO, Union Asset Management Company, said the sustained robust inflows into equity funds demonstrate the underlying positive sentiments. But given the rich valuations in mid- and small-cap stocks, investors should take a staggered approach to investments.

Net outflow debt schemes was higher at ₹1.02-lakh crore against an outflow of ₹25,872 crore in August due to outflow from almost all the schemes. Following this, the industry recorded a net outflow ₹66,191 crore last month against an inflow of ₹14,386 crore in August. The overall AUM was down marginally at ₹46.57-lakh crore (₹46,63-lakh crore).

NFOs & SIPs shine

Mutual funds have launched 16 NFOs mopping ₹7,795 crore including five hybrid categories garnering ₹5,233 crore.

Inflows through Systematic Investment Plan crossed the ₹16,000-crore mark for the first time to hit ₹16,042 crore last month against ₹15,813 crore in August. The SIP asset hit a new high of ₹8.70-lakh crore (₹8.47-lakh crore).

NS Venkatesh, CEO, AMFI, said despite global headwinds, Indian markets have shown resilience with domestic institutional investors driving the market growth and the mutual fund industry maintains a positive overall outlook.

Gold ETFs

Anand Vardarajan, Business Head, Tata Asset Management, said last month was tight in terms of liquidity due to advance tax outflows and quarter-end closing adding to the liquidity crunch. Melvyn Santarita, Analyst – Manager Research, Morningstar Investment Adviser, India, said the quantum of net inflow into Gold ETFs fell to ₹175 crore (₹1,028.06 crore) in September despite its haven appeal and hedge against inflation.

Moreover, he said gold prices in the recent times have come-off from their all-time high levels, thereby providing some buying opportunity, particularly after a sharp rally it witnessed since March this year.

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