Equity Hot Favourites for MFs, Sees Inflow of ₹2,700 Cr in Aug
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Buoyed by the positive investor sentiments after the passage of much delayed GST Constitution Amendment Bill in both houses of Parliament last month, India’s equity markets got a shot in the arm with mutual fund houses pumped in investments of over Rs 2,700 crore in stocks in August, 2016. With this, the total inflow during the current fiscal year 2016-17 has gone up to Rs 9,170 crore so far. According to a data by the Securities and Exchange Board of India (Sebi), the market regulator, mutual fund managers made a net investment of Rs 2,717 crore in August. Interestingly, these managers withdrew Rs 120 crore from the markets in the last two months (June-July). Going further back, the equity markets saw an inflow of Rs 7,149 crore in May, followed by the withdrawal of Rs 575 crore in April by mutual funds. Total investment made by fund managers in equity markets stood at over Rs 70,000 crore during FY 2015-16.