Investment in mutual funds through systematic investment plans (SIPs) dropped for the fifth consecutive month to Rs 7,791 crore in August, amid challenging economic environment due to the COVID-19 pandemic.
Equity mutual funds, which mainly depend on SIP for flows, saw a withdrawal of Rs 4,000 crore in August, much higher than Rs 2,480 crore witnessed in the previous month, data from the Association of Mutual Funds in India (Amfi) showed.