 "Equity MF inflows hit 5-month high of Rs 4,438 crore in April")
The inflow comes after seeing a pull out of Rs 1,370 crore from such funds in March. Prior to that, moderation in inflow was seen in the preceding three months mainly due to volatile equity markets.
Equity schemes received funds to the tune of Rs 3,644 crore, Rs 2,914 crore and Rs 2,522 crore in December, January and February, respectively.
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According to the data from Association of Mutual Funds in India (Amfi), equity funds, which also include equity-linked saving schemes (ELSS) saw net inflow of Rs 4,438 crore last month.
This was the highest net inflow since November, when equity mutual funds witnessed an inflow of Rs 6,379 crore.
Market experts attributed the rise in inflow to investment in systematic investment plans (SIPs) and strong participation from retail investors.
SIP is an investment vehicle that allows investors to invest in small periodically amounts instead of lump sums. The frequency of investment is usually weekly, monthly or quarterly.
The inflow is in line with the BSE's benchmark Sensex rising 265 points or 1.04 per cent during April.