Investors continue to back-up equity mutual funds in June as such schemes attracted a net inflow of ₹15,498 crore on strong flows from systematic investment plans despite volatility in the stock market and relentless selling by Foreign Portfolio Investors (FPIs). This also marked the sixteenth straight month of positive inflow in equity schemes.
As per the monthly data compiled by domestic brokerage and research firm ICICI Securities, Macrotech Developers Ltd, Ambuja Cements, Tata Steel, Hindustan Aeronautics Ltd (HAL), Zomato, Life Insurance Corporation of India (LIC), Larsen & Toubro Infotech (LTI), FSN E-Commerce Ventures (Nykaa), DLF, Mphasis are the top ten largecap stocks that mutual fund (MF) houses sold in the month of June.
Meanwhile, the top ten stocks that asset management companies (AMCs) bought in the largecap category were Vedanta, Piramal Enterprises, Indian Railway Catering And Tourism Corporation (IRCTC), Havells India, ICICI Lombard General Insurance Company, Grasim Industries, Interglobe Aviation (IndiGo), Godrej Consumer Products, Tech Mahindra, Marico, the data by the brokerage showed.
Equity schemes have been witnessing net inflow since March 2021, highlighting the positive sentiment among investors. This positivity is in spite of the capital markets regulator Sebi’s ban on launch of new mutual fund schemes during the June quarter. Though, equity MF inflows last month were lower as compared to the net inflow of ₹18,529 crore seen in May.
All the equity-oriented categories received net inflows in June with the Flexi-cap Funds category being the biggest beneficiary with a net inflow of ₹2,512 crore. This was followed by the multi-cap fund that witnessed ₹2,130 crore net infusion.
Inflows during June 2022 declined marginally to ₹15,500 crore compared to ₹18,500 crore in May 2022. Systematic Investment Plans (SIPs) inflows during June came in at similar level like last at ₹12,275 crore.
Overall, the mutual fund industry registered a net outflow of ₹69,853 crore last month, as compared to a net pull out of ₹7,532 crore in May. The outflow pulled down the average assets under management (AUM) of the industry to ₹36.9 lakh crore at the end of June, from ₹37 lakh crore at May-end.