MFs pump Rs 75,000 crore into equities in April-February
Mutual Fund managers have pumped in a whopping over Rs 75,000 crore into equities in the first eleven months of the current fiscal amid sustained volatility in the stock markets. This comes on top of Rs 68,121 crore invested in the entire past fiscal. Growing participation from retail investors, especially from small towns and several measures taken by markets regulator Sebi led to robust inflows in equity schemes, industry experts said.
The regulator has given extra incentives for those expanding into smaller cities. Equity and equity-linked saving schemes have witnessed a net inflow of Rs 75,394 crore during April-February period of 2015-16, according to latest data with Association of Mutual Funds in India (Amfi). Smaller towns have contributed more than 40 per cent of inflows in equity schemes. "Domestic mutual funds have been bullish on the equities ever since the Narendra Modi-led BJP government came to power at the Centre in May 2014," Quantum AMC Director I V Subramaniam said. Meanwhile, the 30-share benchmark index Sensex has plunged by 17.72 per cent in the first eleven months of the ongoing financial year.