About one-third of equity net inflows came into midcap and smallcap schemes, only 2% in large caps while dividend yield funds saw a negative amount of flows during. Four new active equity schemes were launched in October, which mobilized Rs 3,050 crore.
“We expect this to be positive for mid-cap quality stocks. Quarterly results show mid-cap quality companies are growing their topline faster than larger ones, and the quality franchises are able to pass on inflation costs, supporting profit growth,” Kislay Upadhyay, smallcase Manager and Founder of FidelFolio Investments said.
The net AUM in October of the mutual fund industry stood at Rs 39,50,323.28 crore in October, while the AAUM stood at Rs 39,53,208.95 crore.
Contribution from SIPs stood at Rs 13,040.64 crore during the month as compared to Rs 12,976.34 crore in September.
“Markets continue to react to global factors and domestic rate hikes. However, mutual fund investors have shown resilience and continue to invest in SIPs, with consistent contribution month on month. There is growth in overall equity AUM and Folios too,” AMFI CEO N S Venkatesh said.
