MUMBAI: Monthly gross inflows through the systematic investment plan (SIP) route inched to a new record at Rs 32,490 crore in Sept, demonstrating retail investors’ resilience to the volatilities in the stock market, industry players said.During the month, net inflows into equity schemes also showed a positive trend, data released by mutual fund industry trade body AMFI showed. At Rs 38,306 crore, they were at a five-month high, while in smallcap schemes the net inflow was Rs 9,036 crore, a new record high number.
The MF industry’s overall assets under management, however, saw a 5.1% decline to Rs 82.6 lakh crore, primarily due to mark-to-market (MTM) losses and outflows from debt funds due to advance corporate tax payments that were due by mid-Sept, Venkat Chalasani, the chief executive officer of AMFI, said.In the equity segment, in addition to the record net flows into smallcap schemes, midcap funds took in a net Rs 7,835 crore, while flexicap schemes took in a net Rs 6,702 crore. These inflows came in despite a 5.8% monthly loss in sensex in Sept, an 8% loss in BSE’s select midcap index and a 2.1% slide in BSE’s select smallcap index.According to Navneet Munot, MD & CEO, HDFC AMC, volatile phases in the stock market tend to give way to recovery for those who stay invested. “(Record) SIP flows show how investors today understand the importance of staying the course during testing times,” Munot said.