• Witness overall positive flows of INR 98,575.96 crores
• SIP Monthly Contribution at INR 7,800 crores, SIP AUMs rise to INR 3,42,018 crores

Mumbai, November 9, 2020 (GPN): The Total Mutual Fund AUM as on October 31, 2020 to highest ever INR 28.22 lakh crores while Average AUM for Oct. 2020 was INR 28.33 lakh crores was due to rise in Retail SIP contribution and surge in Net Flows in overall Debt schemes, according to the October 2020 monthly data released by the MF Industry body, the Association of Mutual Funds in India (AMFI) earlier today.

The Mutual Fund Industry witnessed an overall positive flows at INR 98,575.96 crores in October 2020.

During October 2020, Mutual Fund SIP Accounts grew to 3.37 crores, leading to a rise in monthly SIP contribution to INR 7,800 crores, compared to INR 7,788.37 crores in September 30, 2020, and total SIP AUM rising from INR 3,35,571.57 crores as on September 30, 2020 to INR 3,42,018 crores as on October 31, 2020.

Open-ended equity schemes overall, saw an outflow of INR 2,724.95 crores, while the  categories like Large & Mid Cap Fund saw positive flows of INR 256.74 crores and Sectoral/Thematic Funds witnessed net flows of INR 2,214.67 crores due to two NFOs during October 2020.

The outflow significantly moderated for Hybrid scheme category at INR 1,681.87 crores for October 2020, as compared to INR 4,219.01 in September 2020 and INR4,819.45 crores for August 2020.

The Gold ETFs and FoF categories continued to witness net inflow of INR 384.21 crores and INR 337.96 crores during the month.

On the Debt side, surge in the Net Flows in Debt schemes during October 2020 was driven by Liquid, Money Market, Corporate Bond Fund, Short Duration, Ultra short duration, Low Duration and Banking and PSU Fund categories.

Speaking on the occasion, Mr N S Venkatesh, CEO, AMFI said: “Rise in both SIP Contribution and SIP AUMs during October 2020 and continued slowing outflow in equity schemes reinforces the retail investor confidence in the mutual fund as an asset class. This trend is reflective in economy improving further with green shoots amply visible – attractive interest rates, rise in GST Collections, digitalisation-driven efficiencies making Indian corporates healthier, conducive GoI policy for attracting FDI and continued surge in FII investment coupled with favourable geo-political scenario would continue to keep Indian equity markets an attractive investment destination over a long term.” ENDS