MUMBAI: Mumbai: A resilient economy in the face of global volatility, which lifted the equity markets to new highs in July, prompted
retail investors
to repose their faith in
mutual funds
and continue their investments through this
asset class
.
As a result, the
monthly flows
through the SIP route jumped to an all-time high of Rs 23,332 crore while the total assets under management of the MF industry was almost at Rs 65 lakh crore, also a new record high, data released by AMFI, the fund
industry trade body
showed.
“SIP contributions reaching an all-time high…in July 2024 reflects the growing
financial discipline
among retail investors, helping them build wealth systematically over time,” said Venkat Chalasani, chief executive, Amfi.Although equity funds recorded a lower net inflow in July at Rs 37,113 crore compared to Rs 40,608 crore in June, it was 41st consecutive month of
net inflows
for these schemes.
Debt funds
too recorded robust net inflows, at nearly Rs 1.2 lakh crore.
