DESPITE THE RALLY in the stock market fizzling out after September, equity mutual funds (MFs) closed the year on a strong note, with December witnessing net inflows of ₹41,156 crore. This led to a year-on-year rise of 144%, taking the total tally to a record ₹3.9 lakh crore for 2024.
Equity MFs saw the second-best monthly inflows in December, just shy of ₹41,887 crore achieved in October, fuelled by a strong investor sentiment in the sectoral and thematic as well as small- and mid-cap funds. This came despite the equity markets closing the month in the red, down over 2%.
"The correction in the markets during the month provided a good investment opportunity for investors, which they didn't fail to capitalise on," Himanshu Srivastava, associate director - manager research at Morningstar Investment Research India, said.
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