For the fifth straight month, equities witnessed inflows during July 2021, according to the data released by the Association of Mutual Funds in India (AMFI) on Monday.
The net equity inflows stood at ₹ 20,742.8 crore in July 2021 compared to ₹ 4,608.7 crore in June 2021, according to the AMFI data. New Fund Offers or NFOs contributed ₹ 13,709 crore during July 2021.
The number of systematic investment plan (SIP) accounts outstanding were at 4.17 crore in July 2021 as compared to 4.02 crore in June 2021. The contribution from SIPs stood at ₹ 9,609 crore in July compared to ₹ 9,156 crore in the previous month.
Arbitrage funds got inflows of ₹ 14,924 crore in July 2021.
Exchange traded funds (ETF) investing in gold saw net outflows of ₹ 61 crore compared to net inflows of ₹ 359 crore.
RBI’s accommodative stance, healthier earnings growth, vaccination-driven steady containment of Covid pandemic and global and domestic liquidity is driving the equity markets to historic highs. Taking the cue, retail Investors too are participating in the equity rally, largely through Mutual Fund SIPs, on a continued rising quantum at record levels,” Chief Executive of AMFI, N S Venkatesh said while commenting on the data.