Views of the MF Houses’ spokes persons; Large cap biased schemes continue to see inflows
Akhil Chaturvedi, Executive Director & Chief Business Officer, Motilal Oswal AMC
Sanjay Agarwal, Senior Director, CareEdge Ratings:
FinTech BizNews Service
Mumbai, 11 November, 2024: Association of Mutual Funds in India (AMFI) has on Monday released Mutual Fund Industry Monthly Data for October 2024. Leading voices of the MF industry provide analytical insights on the latest AMFI numbers:
Akhil Chaturvedi, Executive Director & Chief Business Officer, Motilal Oswal AMC:
The equity inflows continue to be stable around 40k cr net sales on monthly basis. The flows apart from NFO which were healthy at 15k cr is also diversified across market cap buckets. We have seen heightened volatility in markets with FII selling due to major global events including USA elections. The healthy net flows are a testimonial to the resilience amongst domestic investors to continue investing in equities despite market volatility.
Hitesh Thakkar, Acting CEO, ITI Mutual Fund:
Indian mutual fund industry is at an all-time high AUM of Rs 6,725,614.61. The month shows investors have preferred hybrid funds due to the ongoing volatility in the equity markets. We are positive on the Indian economy and India's equity market will deliver a reasonably good return while comparing with other emerging markets. Trump presidency in US is broadly positive for us. We believe that the market is volatile due to short terms factors like weak domestic earning cycle, delayed government spending for capital intensive sectors etc. However, investors should continue investing in equity mutual funds with 3-5 years’ time horizon.
Manish Mehta, National Head - Sales, Marketing & Digital Business, Kotak Mahindra AMC:
Industry net sales numbers came in strongly aided by NFO listings in the sectoral category. Large cap biased schemes continue to see inflows. Distributors continue to guide investors to navigate market volatility through SIPs / STPs and occasional one-time purchases on days when markets witnessed corrections.
Sanjay Agarwal, Senior Director, CareEdge Ratings:
The AUM of the mutual fund industry has continued to grow at a brisk pace of over 40% y-o-y and 1.2% sequentially to reach Rs.67.91 lakh crore as the Sensex has risen by more than 20% over the last 12 months and is also buoyed by continued inflows in debt as well as equity mutual funds despite market volatility. Overall, the industry witnessed an inflow Rs 2.4 lakh crore in the month, primarily due to inflows of Rs 1.57 lakh crore into debt schemes. Over the last 44 months, the equity inflows have remained positive and in the current month touched a high of over Rs 0.41 lakh crore. During October 2024, 29 open-ended NFOs were floated which collectively mobilised Rs.0.06 lakh crore with sectoral/thematic funds accounting for 58% share. All categories excluding Credit Risk Funds witnessed inflows.
