Large outflows hurt equity MFs in July

Net inflows into equity mutual funds, comprising both open-ended and closed-end schemes, fell to ₹7,505.32 crore in July from ₹8,244.8 crore in the previous month, showed data from the Association of Mutual Funds in India (Amfi).

- Ujjval Jauhari

This was marked by outflows worth ₹1,880 crore from large cap funds, continuing the trend seen in June that saw outflows of ₹2,049.61 crore, as investors booked profits amid a rally in the stock markets.

However, mid- and small-cap funds remained the favourite of investors. Small-cap funds saw inflows worth ₹4,171.44 crore, while mid-cap fund inflows were at ₹1,623.33 crore. While net inflows in equity schemes declined in July over June, the trend remains healthy if longer term average is considered, said experts.