These 9 equity mutual fund categories see inflows in June; midcap funds emerge on top
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Surge in inflows
Equity mutual fund inflows surged nearly 26% month-on-month to Rs 28,973 crore in June, compared with Rs 22,907 crore in May. Around nine equity mutual fund categories received inflows and two saw an outflow. Here is a detailed breakup (Source: AMFI Data)
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Mid caps and small caps
Midcap funds and smallcap funds received an inflow of Rs 6,090 crore and Rs 5,601 crore respectively in June. On a monthly basis, these categories saw a jump of 39% and 13% respectively.
“Mid Cap and Small Cap continued to attract healthy flows of over Rs 6,090 crore and Rs 5,602 crore respectively, indicating sustained conviction in India’s long-term growth story,” said Suranjana Borthakhur, Head of Distribution & Strategic Alliances, Mirae Asset Investment Managers (India).
“Mid Cap and Small Cap continued to attract healthy flows of over Rs 6,090 crore and Rs 5,602 crore respectively, indicating sustained conviction in India’s long-term growth story,” said Suranjana Borthakhur, Head of Distribution & Strategic Alliances, Mirae Asset Investment Managers (India).
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Inflows in flexi cap funds
Flexicap funds received an inflow in June of Rs 5,231 crore registering a growth of 1% from an inflow of Rs 5,175 crore in May.
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Large & mid cap funds
Large & midcap funds received an inflow of Rs 4,321 crore in June witnessing a jump of 32% on monthly basis from an inflow of Rs 3,278 crore in May
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Multi cap funds
Multicap funds received an inflow of Rs 3,070 crore in June witnessing a jump of 34% on monthly basis from an inflow of Rs 2,291 crore in May
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Large cap funds
Largecap funds received an inflow of Rs 2,067 crore in June witnessing a jump of 30% on monthly basis from an inflow of Rs 1,592 crore in May
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Sectoral and thematic funds
Sectoral and thematic funds received an inflow of Rs 1,469 crore in June registering a jump of 127% from an inflow of Rs 647 crore in May. “Sectoral/Thematic funds witnessed a recovery during the month, attracting INR 1,469 crore compared to INR 648 crore in May, indicating renewed but measured interest in thematic opportunities,” said Nehal Meshram, Senior Analyst, Morningstar Investment Research India.
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Last two with inflows
Focused funds received an inflow of Rs 1,118 crore and value/contra funds received an inflow of Rs 686 crore in June. The categories witnessed a jump of 35% each.
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Two with withdrawals
ELSS funds and dividend yield funds saw an outflow of Rs 633 crore and Rs 49 crore respectively in June. “ELSS and Dividend Yield Funds remained the only categories to witness net outflows. Persistent outflows from ELSS continue to reflect the impact of the growing adoption of the new tax regime, which has reduced the relative attractiveness of tax-saving investment products,” Nehal said.