New Delhi: Inflows into equity mutual funds dropped sharply by 40 per cent to Rs 5,988 crore in June on profit booking by investors as stock markets witnessed sharp rallies in recent times.
In comparison, the equity mutual funds saw a net inflow to the tune of Rs 10,083 crore in May, the highest fund infusion in 14 months, data from the Association of Mutual Funds in India showed on Thursday.
Equity schemes saw a net inflow of Rs 3,437 crore in April and Rs 9,115 crore in March. Prior to this, equity schemes had consistenly witnessed outflows for eight straight months from July 2020 to February 2021.
"With net inflows in March, April, May and now in June, clearly investors are gaining their conviction back on the equity markets," Himanshu Srivastava, Associate Director Manager Research at Morningstar India, said.