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Investors continued to book profits in largecap funds, as this category saw net outflows for the third straight month in July. The net inflows last month were Rs 1,880 crore, compared to outflows of Rs 2,049.6 crore in June.
Recently, due to higher-than-usual inflows into small cap funds, Nippon Life India Asset Management, announced that it will not accept lump-sum investments in one of its schemes - Nippon India Small Cap Fund (NISF).
The assets under management (AUM) of open-ended equity funds stood at Rs 17.43 lakh crore, up over 5% month-on-month. Within equity funds, smallcap funds saw the highest inflows during the month at Rs 5,472 crore. For the third straight month, the inflows into smallcap funds have been the highest.
According Amfi data, the industry has seven silver ETFs with an asset under management of ₹1,792 crore as of March 2023. All these funds were launched in 2022
Mutual fund inflows rose to ₹40.05 lakh crore in FY23 against ₹37.70 lakh crore in FY22