Equity mutual funds (MF) notched up record inflows of Rs 20,000 crore in August, 2.4 times the average monthly flows for 2017. When asked if last month’s flows were just an aberration, the chief executive of an asset management company said: “Financial savings into equities are not even five per cent. At their peak, just ahead of the Harshad Mehta scandal, it was 25 per cent. The inflow tally should only go up. It is sad that Ponzi schemes or market manipulators are able to attract more investments than we honest mutual fund officials.”
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