SIP inflows cross ₹27K cr; AUM soars to ₹74L cr

DRIVEN by the mark-to-market gains in equities, the overall net assets under management (AUM) of the mutual fund industry rose to ₹74.4 lakh crore from ₹72.20 lakh crore in May and ₹69.99 lakh crore in April.

- BENN KOCHUVEEDAN @ Mumbai

The rise was led by a 24% in inflows to ₹23,587 crore, taking the net inflow to ₹49,095 crore, a 66% jump over May. Continuing inflows into SIPs, which crossed the ₹27,000 crore mark for the first time, boosted the overall industry AUM, showed the latest industry lobby Amfi data.

The massive claw back in inflows into equity funds in the reporting month comes after a sharp 22% decline in May, the Association of Mutual Funds (Amfi) said on Wednesday. This makes inflows into equity funds remaining in the positive zone for the 52nd month in a row.