India equity mutual fund inflows up nearly 72% in January: AMFI

1 mins read . 09 Feb 2023 . 09:06 AM

According to the data released by the Association of Mutual Funds in India (AMFI) showed, inflows into Indian equity mutual funds jumped nearly 72% to 125.47 billion rupees ($1.52 billion) in January 2023, whereas net investments in equity and equity-linked schemes jumped 71.8% from the previous month to Rs 12,546.5 crore in January.

SIP contribution rose to Rs 13,856.18 crore in January 2023 as against Rs 13,573.08 crore in December 2022. Also, the number of SIP accounts reached 6.21 crore, compared to 6.12 crore in December.

Further, the average assets under management stood at Rs 40.80 lakh crore in January versus Rs 40.76 lakh crore in December. Net AUM fell to Rs 39.62 lakh crore from Rs 39.88 lakh crore in the previous month.

Chief Executive Officer N. S. Venkatesh said “SIPs have shown a very positive trend, and contribution has touched an all-time high. Considering the way, the market is behaving, retail investors have continued to look at equity as an investable segment, which is why inflows are on an upward trend.”