Investors booked some profits in equity mutual funds and held back from allocating fresh money in May in the wake of the rebound in the stock market. Flows into equity schemes dropped 22% to ₹19,013 crore in May from ₹24,269 crore in April.
"After a robust performance in the preceding months, elevated stock valuations prompted investors to take a cautious stance, resulting in a noticeable slowdown in equity inflows," says Viraj Gandhi, CEO, SAMCO Mutual Fund.
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