Gold exchange-traded funds (ETFs) continued to attract investor money in September, with inflows rising to Rs 4,451 crore from Rs 2,597 crore in August, an increase of around 71.4% month-on-month (MoM), according to data released by the Association of Mutual Funds in India (AMFI).
The increase in gold ETF inflows came as the broader mutual fund industry recorded net outflows of Rs 1.33 lakh crore in September, reversing the net inflows of Rs 41,353 crore reported in August. Fixed-income mutual funds were the biggest source of outflows, with net withdrawals surging to Rs 1.83 lakh crore from Rs 8,127 crore in the previous month.
The mutual fund industry's net assets under management (AUM) declined to Rs 82.64 lakh crore in September from Rs 87.08 lakh crore in August.
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Equity Mutual Fund Inflows Strengthen
Equity mutual funds continued to attract investor money, with net inflows rising to Rs 38,307 crore in September from Rs 29,328 crore in August, an increase of around 30.6%.
READ | SIP Inflows Hit Record High Of Rs 32,490 Crore In September: AMFI Data
Small-cap funds attracted Rs 9,039 crore, compared with Rs 7,973 crore in August, while mid-cap fund inflows increased to Rs 7,835 crore from Rs 6,989 crore.
Flexi-cap funds recorded inflows of Rs 6,702 crore, up from Rs 5,059 crore in the previous month. Sectoral and thematic funds saw inflows rise to Rs 3,640 crore from Rs 1,713 crore.
Large-cap funds returned to positive territory, attracting Rs 859 crore in September after recording outflows of Rs 1,147 crore in August. Multi-asset allocation funds recorded inflows of Rs 3,667 crore, marginally lower than Rs 3,671 crore in August.
SIP Contributions Hit Record High
Monthly systematic investment plan (SIP) contributions reached a new all-time high of Rs 32,490 crore in September, compared with Rs 32,297 crore in August, highlighting continued investor participation through the route.
However, the sharp outflows from fixed-income schemes weighed on overall mutual fund flows, offsetting the improvement in equity inflows and the rise in gold ETF investments.
READ | Mutual Funds See Big Net Outflow: AMFI Data Shows Rs 1.33 Lakh Crore Withdrawal In September
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