Inflows into equity mutual fund (MF) schemes declined for a fourth consecutive month in April, even as systematic investment plan (SIP) inflows reached a record high of about Rs 26,632 crore.
Inflows into mutual funds' equity schemes increased by over 14 per cent on-month to Rs 41,156 crore in December, even as market volatilities continued. The small and midcap schemes of mutual funds continued to attract investor interest with inflows touching record highs during the month, despite the concerns being expressed about the two segments for the risk they portend, industry body Amfi said.
'The correction in the markets in the initial part of August provided investors a good buying opportunity.'
Unperturbed by election uncertainty, investors poured record sums into equity mutual fund (MF) schemes in May, driving India closer to a $5 trillion market capitalisation. The Rs 34,697 crore net inflows into actively managed equity funds last month surpassed the previous high of Rs 28,463 crore recorded in March 2022. In April 2024, equity schemes had garnered nearly Rs 19,000 crore.
Smallcap mutual funds recorded net outflows for the first time in 30 months in March as investors pulled out money after the markets regulator, the Securities and Exchange Board of India (Sebi), warned against "froth" in the mid and smallcap space. Active equity mutual fund (MF) schemes raked in Rs 22,600 crore in March. The March inflow is 16 per cent lower than the two-year high inflow of Rs 26,860 crore in February, shows data from the Association of MFs in India (Amfi).
The sharp surge in investment accounts (folios) in midcap and smallcap mutual funds (MF) in recent months is likely driven by the do-it-yourself (DIY) investors. In the first five months of the present financial year (FY 2024), net folio additions in direct MF plans (4.5 million) has outpaced that in regular plans (3.9 million), contrary to the trend seen in the previous three six-month periods. The net folio additions in direct plans in the five-month period (April-August 2023) is 40 per cent higher than the total additions made in the previous six month period.
Mutual funds recorded Rs 7,600 crore net inflows into active equity schemes in July even as redemptions surged to a 30-month high of Rs 30,400 crore owing to profit booking, reveals data from the Association of Mutual Funds in India (Amfi). Equity net inflows were 13 per cent lower compared to the preceding month's tally. The inflows were supported by a strong flow from retail investors through the systematic investment plan (SIP) route.
Inflow in equity mutual funds halved to Rs 3,240 crore in May, declining for the second consecutive month, primarily due to profit booking by investors amid rising market. However, this was also the 27th consecutive month of inflow in the equity class, which was primarily driven by fund infusion in small-cap and mid-cap categories, data released by the Association of Mutual Funds in India (Amfi) showed on Friday. Overall, the 42-player mutual fund industry continues to see inflow and attracted Rs 57,420 crore, on contributions from debt-oriented schemes.
The net inflows into active equity mutual fund (MF) schemes registered more than a twofold month-on-month rise in August, crossing Rs 20,000 crore, the highest in five months. This rise in net inflows was boosted by an 18 per cent growth in gross investments, driven by a record Rs 15,800 crore inflow through the systematic investment plan (SIP) route and Rs 5,000 crore collected by seven new fund offers (NFOs) in the active equity space, reveals data released by the Association of Mutual Funds in India (Amfi). Moreover, redemptions moderated in August, declining by 19 per cent to Rs 24,580 crore, after staying elevated in the previous three months owing to profit booking.
Even as the returns of mutual fund (MF) schemes have improved considerably in the past three months, addition of new investors has remained in the slow lane for the MF industry. According to industry data, during the first six months of CY 2023, MFs onboarded only 1.6 million new unique investors, in stark contrast to the 4.7 million investors added during the same period last CY and the 2.4 million in 2021. It is noteworthy, however, that the current additions for this year have doubled in comparison to the figure of 800,000 seen in 2020.
In daring twin attacks, suspected Lashkar-e-Tayiba militants in combat uniform struck terror on the outskirts of Jammu in Kathua district and killed a civilian and a soldier guarding an army camp gate, leaving three others injured. "The gunfight ended on Friday evening after the three terrorists were killed. It was a joint operation of the army and police," the spokesman said.
Pakistani troops on Thursday violated border ceasefire as they resorted to "unprovoked" firing from across the Line of Control in Jammu region, which was retaliated to by the Indian forces, the defence ministry said.
The joint search operation was launched by Quick Reaction Team of the Army and Special Operation Group of police.
Security forces foiled an infiltration bid and gunned down three militants on the Line of Control in frontier Poonch district on Thursday evening.
Meanwhile in Poonch, the body of one intruder was recovered as the Army foiled another infiltration attempt.
Brigadier, Northern Command, S Gotra said the Indian Army launched a counter offensive along the LoC in retaliation to Tuesday's offensive in Machhil.
In a major embarrassment to the Indian Army, the national flag was held upside down at a function in presence of senior army officers in Rajouri district of Jammu and Kashmir.
A 16-year old girl was killed and four civilians were injured in the heavy Pakistan army firing in the frontier Poonch district of Jammu region.
However, Defence PRO Col Manish Mehta said there was no ceasefire violation.
So far, there are no reports of casualties or injuries and a gunbattle is underway.
Both the sides mutually agreed to the importance of exercising restraint on the LoC and keeping the communication alive through established reconciliation mechanism.
Two Border Security Force jawans were injured in fresh incidents of ceasefire violation by Pakistani troops along the Line of Control in Poonch and Kupwara districts of Jammu and Kashmir.
Indian and Pakistan troops exchanged heavy fire in the Nowgam sector of the Line of Control in north Kashmir Baramulla district on Wednesday after two paramilitary border security force troopers were injured in sniper fire from across the LoC.
Reports said in the retaliatory action by the Indian Army, one Pakistani post Twiven1 has been been destroyed.
In the first ceasefire violation this month, Pakistani troops on Tuesday targeted Indian forward posts with small arms and automatic weapons along the Line of Control in Poonch district of Jammu and Kashmir, prompting Indian forces to retaliate.
A large quantity of weapons, including AK-47 rifles and mines with Pakistan-marking were recovered from the slain terrorist.
An army jawan was killed and three others injured in a blast triggered by an Improvised Explosive Device attack along LoC in Poonch district of Jammu and Kashmir on Thursday.
Army troops on Friday foiled an infiltration bid along the Line of Control in Poonch district, killing a suspected militant who was in an army fatigue.
Violating the ceasefire for the 10th time this month, Pakistani troops on Sunday opened heavy fire on Indian posts along the LoC in Poonch district of Jammu and Kashmir.
"Pakistan troops resorted to unprovoked firing in three areas of Noushera Rajouri district from 05:15 hours today," Defence Spokesman Col Manish Mehta said. They fired mortar bombs, automatic weapons and small arms, he said, adding that Indian troops gave a befitting reply.
Bravery of the wives of two army officers who were staying in the family quarters helped in averting a major hostage crisis during the encounter that took place in Nagrota area of Jammu on Tuesday.
These fresh violations came after a gap of one month and four days along Indo-Pak border in Jammu and Kashmir.
A GERF labourer was killed while two others including a BSF jawan were injured in the shelling and firing on forward posts along the LoC in Rajouri and Poonch districts.
Polio patients Imtiyaz and Ulfat, and Priya, suffering from nervous disorder, have all the reasons to thank the army
40 more people have succumbed to the virus while the number of those affected crossed 18,000 on Friday.
This is the ninth consecutive day that Pakistan violated the ceasefire. There have been 41 violations of the ceasefire accord this year so far. There has been over 230 ceasefire violations along the Indo-Pakistan border this year.
Pakistani troops violated the ceasefire twice overnight by pounding civilian hamlets and Indian forward posts with 120 mm and 82 mm mortar bombs along the LoC in Poonch district, drawing retaliation from the Army.
The ceasefire violation comes after nearly seven months as last such incident took place on September 18, 2015 in the Balakote sector of Poonch district.
"The Pakistani Army initiated indiscriminate firing of small arms, automatics, 82 mm and 120 mm mortars from 0715 hours along the Line of Control (LoC) in Nowshera sector", PRO, ministry of defence, Jammu, Lt Col Manish Mehta said. The Indian Army posts are retaliating strongly and effectively, he said, adding that the firing is currently going on.
A villager was injured as Pakistani Army violated the ceasefire four times overnight by pounding civilian hamlets and posts with 120 mm and 82 mm mortar bombs along the International Border and the Line of Control and LoC in Jammu and Poonch districts, drawing retaliation from the Army and BSF.
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