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Equity mutual fund schemes have turned attractive with investors putting in a staggering Rs 34,000 crore in them during the first half of 2014-15.
In the April-September period of 2013-14 such schemes had seen a net outflow of Rs 5,354 crore.
As per the latest data available with the Association of Mutual Funds in India (AMFI), investors have pumped in a net amount of Rs 33,790 crore in equity-oriented MF schemes in the April-September period.
This trend is expected to continue in the coming months, industry experts said, adding that the positive sentiment towards equity MFs and equity-linked savings schemes has been witnessed ever since the Narendra Modi-led government came to power at the Centre in May.
These funds have added more than 5 lakh investor accounts or folios in the first six months of the current fiscal in view of sharp rise in the stock market.
The strong inflow in MF schemes coincided with a spurt in BSE's benchmark index, Sensex, by around 19% during the period under review.
With the stock market hitting new all-time highs, it has become easier for MFs to attract investors, citing impressive returns from equity schemes which are currently higher than that of bank fixed deposits.
MFs pool funds from investors for investing in securities such as stocks, bonds, money market instruments and similar assets.
The mutual fund industry's average assets under management (AUM) have also scaled new highs mainly on account of a surge in equity AUM.
AUM of 45 houses collectively rose 7.24% or Rs 71,453 crore to hit a record of Rs 10.6 lakh crore in the April-September period.
