Inflows in equity schemes dip 40% in October amid rally in markets

Number of SIP accounts at a record high of 46.4 million in October

Positive market sentiment and a sustained rally continued to attract investors towards equity-oriented and hybrid mutual funds in October. But the quantum of net inflows for the month in equity schemes stood at Rs 5,215 crore, 40 per cent lower than the flows witnessed in the previous month, possibly due to some profit-booking given the rich valuations.

All schemes, barring ELSS and value/contra schemes, reported positive flows in the equity-oriented category. This was the eighth consecutive month of net inflows for the category, with inflows since March totalling Rs 73,766 crore. Before that, equity-oriented funds witnessed net outflows for eight straight