The new fiscal year has started with strong inflows into domestic equity mutual funds which are now driving the direction of India equity markets. Mutual funds’ Equity and ELSS (Equity Link Savings Scheme) schemes saw aggregate net inflows of Rs 9,400 crore (US$ 1.5 billion) in April 2017, Deutsche Bank said in a report.
This is more than twice the April 2016 inflow and 61 percent higher-than-past 12-month average. The trend is also interesting in the context of relatively lean seasonality for the April to June quarter.
