Mumbai (TIP): Even as the stock markets hit record highs, the mutual fund (MF) sector reported a decline in inflows into equity and debt schemes while balanced advantage funds mobilised a higher amount through new fund offers (NFOs). While funds mobilised via SIPs hit a new high of Rs 9,923 crore and folios under retail schemes shot to a peak of 8.95 crore, investors pumped in a net Rs 8,666 crore into equity mutual fund schemes in August, lower than the Rs 22,583 crore invested in July.

However, the balanced advantage category continued to attract big inflows, as it saw net inflow worth Rs 16,570.97 crore last month , as per Association of Mutual Funds in India (AMFI). Flexi cap funds saw inflows of Rs 4,741 crore, followed by focused funds.

On the other hand, ELSS and value funds saw outflows.

New fund offers continued to attract big money from retail investors and mobilised Rs 23,668 crore in August.

Debt MF schemes saw net inflows worth Rs 1,074 crore in August, The number was much higher at Rs 73,694.04 crore in July.

Similar to last month’s trends, floater funds attracted the biggest investment. However, overnight and low duration funds saw big withdrawals of Rs 11,807 crore and Rs 7,407 crore respectively.

AMFI Chief Executive N S Venkatesh said, “Overall positive flows into open-ended MF schemes and all-time high market indices helped Indian MF industry’s net assets under management (AUMs) to breach record Rs 36 lakh crore milestone in August 2021.”

According to him, retail assets were at Rs 17.15 lakh crore, almost half of total Industry AUMs. SIP AUMs hit a record high of Rs 5.26 lakh crore, which now forms a third of retail AUM. On the other hand, there has been a healthy rise in SIP accounts to a record 4.32 crores and monthly SIP contribution at an all-time high of Rs 9,923 crore, reflecting the rising retail preference towards mutual funds as a long-term wealth creation avenue, he said.