Tally for 2021 rises to Rs 97,000 cr; monthly SIP contributions rise to Rs 11,305 cr
Equity mutual funds (MFs) ended 2021 on a strong note seeing record net inflows of Rs 25,076.71 crore in December, taking the net inflows for the year to Rs 96,669.97 crore, according to data from the Association of Mutual Funds in India (Amfi).
Inflows through the systematic investment plan (SIP) route for December stood at Rs 11,305.34 crore, as against a monthly SIP contribution of Rs 11,004.94 crore in November.
Market players say Indian investors have continued to repose faith in equity funds and inflows were high also because of the new fund offers (NFOs) brought out by many fund houses. In December, fund houses launched six equity-oriented schemes, collecting Rs 12,446 crore. Three multi-cap schemes saw collections of Rs 9,509 crore, while other three thematic funds collected Rs 2,937 crore.
Sunil Subramaniam, managing director of Sundaram MF, says, “I think the Omicron variant of Covid-19 is a worry for foreign investors. Domestically, even though Omicron cases are on the rise, people have seen how Covid-19 has been tackled in the last two waves and how the economy has recovered, which is giving them the confidence to invest in equities.”
In December, the benchmark Sensex rose around 2 per cent and in the last one year the index has surged nearly 24 per cent. Officials in the industry feel the overall flows into SIPs will remain strong in 2022 as well, but there could be some profit booking by investors.
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