June brings cheer to equity mutual funds

Overall net inflows in equity schemes stand at Rs 872 cr

After a long wait for the tide to turn, India's equity mutual funds saw the highest net inflows over the past 21 months in June. The month was full of volatility, wherein the benchmark indices had lost about six per cent at one point of time before bouncing back.

Overall net inflows in equity schemes (including equity linked saving schemes) were Rs 872 crore, according to the latest statistics from the Association of Mutual Funds in India.

It has come as big relief for the sector, which had seen redemptions for 15 of the past 21 months. There were months when net outflows from equity even surpassed Rs 3,500 crore.

The previous month of high inflow was as far earlier as September, 2011, when these were Rs 1,440 crore. Later, barring one occasion, the segment never could manage to see positive inflow of more than Rs 500 crore.