MillenniumPost
Business

MF inflows sustain for record 18 mths; local buying hits $9 bn

Inflows into equity mutual funds continued for a record 18th month in October with Rs 6,269 crore (around $964 million) flowing into various schemes.

Besides, domestic MFs have logged in the highest net buying of $9 billion in the first 10 months of this year.

According to a Deutsche Bank research report, inflows sustained into local equity MFs for a record 18th successive month. "This was the 18th straight month of positive flows, and a strong sign that equitisation of savings is getting entrenched despite volatile equity market in past few months," Deutsche Bank said in a research note.

The global brokerage firm noted that the trend of shift from physical assets to financial assets is a multi-year phenomenon, and a lower level of inflows were likely in near term due to volatile markets, a robust tax-free bond issuance pipeline, and an "unprecedented streak" of $20 billion net inflows in preceding 17 months". 
Next Story
Share it