India logs over Rs 10,000 cr of monthly mutual fund inflows in market boom

The record run in India’s equity market is finding strong support from retail mutual fund investors, who are pumping more than a billion dollars a month into stock plans. 

Inflows into mutual funds from regular contributions through systematic investment plans, or SIPs, hit an all-time high of 103.5 billion rupees ($1.4 billion) in September, according to data from the Association of Mutual Funds in India.

Asset managers collected 82.8 billion rupees in 13 new funds launched in September as rising stocks boost the appeal of equity investments for individuals versus low-yielding bank deposits. An unprecedented 2.7 million new accounts were