Friday, August 14, 2020
News

Net inflow to equity MFs plunges 95% in June

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Mumbai | Thursday, 2020 4:45:05 AM IST
Likely profit booking led to a plunge of over 95 per cent in net investments into equity mutual funds schemes in June, compared to May.

The net inflows only stood at Rs 240.55 crore in June, as against Rs 5,256.52 crore in May.

The month-on-month slump comes on the back of likely profit booking.

According to the data from the Association of Mutual Funds in India, monthly SIP contribution was down to Rs 7,927.11 crore in June from Rs 8,123.03 crore in May.

However, total assets under management of the mutual fund rose to Rs 25.48 lakh crore in June 2020 as compared to Rs 24.54 lakh crore in May 2020.

On the June 2020 Mutual Fund Monthly data, N.S. Venkatesh, Chief Executive, AMFI said: "Reducing Interest rates, gradual unlocking of economic activity with expected return to normalcy has seen renewed buoyancy in markets leading to Mutual Fund AUMs crossing Rs 25L crore mark for the first in the last three months of this fiscal, FY2020-21.

"With monthly SIP contribution at INR 7,927.11 crores, Mutual Fund SIP investors may have opted for pause facility and we should see SIP contribution surging in Q4CY20."

--IANS rv/sn/vd

( 207 Words)

2020-07-08-22:39:08 (IANS)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Foundation laid for Rs 1,000 cr pvt rail...
Equities end flat; banking, healthcare s...
WeWork India offers more flexible option...
Godrej Industries logs Rs 106 cr consoli...
US stocks end mixed following jobless cl...
Sensex opens with surge of 122 points...
More...
 
INDIA WORLD ASIA
DIG holds video conference to assess COV...
Mizoram's COVID-19 tally at 657...
Strict surveillance in Guwahati ahead of...
Rains likely to lash Delhi-NCR in next f...
Security beefed up in Delhi-NCR ahead of...
UP Vidhan Bhawan decked up for I-Day cel...
More...    
 
 Top Stories
Researchers develop cell injection ... 
Total amount sanctioned under Natio... 
SC adjourns for next week hearing o... 
Seeing Vasundhara Raje in green sar... 
Disha Salian's father files police ... 
Rouhani inaugurates big agricultura... 
Ishaan Khatter to star in a war act... 
Netflix releases official trailer o...