Mumbai: It seems investors have taken benefit of the market dip in August by investing in equity mutual funds. Equity schemes have clocked net inflows of Rs 1,942 crore in the month of August, shows AMFI data even though the market fell by a steep 8%. Compared to this, equity funds had seen redemptions of Rs 729 crore in July.
However, the total industry AUM dipped 4 percent to Rs 6.96 lakh crore mainly due to the market fall and redemptions in income and liquid schemes.
Balanced schemes and gold ETFs recorded inflows of Rs 210 and Rs 494 crore respectively. Equity ETFs saw redemptions of Rs 147 crore while overseas fund of funds saw Rs 63 crore net outflows in August.
The combined net outflows from all types of schemes stood at Rs 14,597 crore.
Among the new fund offers, Edelweiss Select Midcap Fund mopped up Rs 6 crore. The new capital protection funds and FMPs under the close-ended schemes category launched in August collected Rs 5,490 crore.
