Winning Bizness Desk

Mumbai. Investors' confidence in mutual funds is cementing day by day and for the first time in November, the Asset Under Management (AUM) of the mutual fund industry crossed the Rs 40 lakh crore benchmark. Interestingly, investment in equity funds fell by 76% last month as compared to October. Profit booking is said to be the biggest reason for this. According to the Association of Mutual Funds in India (AMFI), the AUM of the mutual fund industry stood at Rs 40.37 lakh crore in November which was Rs 39.50 lakh crore in October. But during the same period investment in open-ended equity funds declined by nearly 76% to Rs 2,258 crore. In October, investors had put in Rs 9,390 crore in such funds. Close-ended funds like Equity Linked Savings Schemes (ELSS) have very modest investments.

SIP investment at new record level

According to the data that came on Friday, investment through SIP had reached a new lifetime high of Rs 13,307 crore last month. SIP investments crossed Rs 13,000 crore (Rs 13,040.64 crore) for the first time in October. The investment in equity funds has decreased, but there has been no withdrawal. Net investment has taken place for the 21st month since March 2021. It bottomed out last month as some investors shifted to debt funds. According to AMFI data, there was a net inflow of Rs 3,668.59 crore in debt schemes in November. In comparison, there was a withdrawal of Rs 2,818 crore from mutual funds of this category during October. Amfi CEO NS says that there have been withdrawals from some schemes of Venkatesh Mutual Fund. This is the result of profit booking by retail investors. The special shopping of the wedding season can be the reason for this.