According to recent data from the Association of Mutual Funds in India (AMFI), equity mutual funds saw a net inflow of Rs 20,245.26 crore in August 2023, nearly triple in comparison to July’s inflow of Rs 7,625.96 crore. This marks a five-month high mark in the mutual fund inflow and showcases strong investor interest in the market.
The small-cap funds saw an inflow of Rs 4,265 crore for August compared to Rs 4,171 crore for July while the mid-cap funds saw an inflow of Rs 2,512 crore compared to Rs 1,623 crore for July. The market also saw a lot of emphasis on diversification strategy as multi-cap mutual fund inflow saw Rs 3,422.14 crores come in.
Meanwhile, the large-cap funds saw an outflow of Rs 348.98 crores signaling a cautious take on the larger companies from the investors.
Hybrid funds stood at an inflow of Rs 17,082 crore for August in comparison to Rs 12,421 crore in July. Similarly, ETFs saw an inflow of Rs 1,893 crores in the same month. The major outflows for the month were from Liquid funds at Rs 26,824 crores and the ELSS scheme at Rs 26.69 crores.
What this spells for the upcoming months?
Some experts have predicted that the mutual fund market will see steady growth in the upcoming months of 2023 and will see a pickup in investor confidence. It is also expected that the market will be steadfast with the continued economic growth.
Are you an NRI looking to tap into India’s growing economy? You can now easily choose to invest in 2000+ mutual fund schemes in India with ease via the SBNRI app.
Here’s how you can make your NRI mutual fund investing dream a reality with the SBNRI app today.
Step 1: Set up your NRI account: You need to open an NRE or NRO account basis the type of earnings and savings you will be collecting. Both NRE and NRO are rupee-denominated bank accounts. Generally, NRE accounts are maintained to deposit your foreign earnings in India while NRO accounts are maintained to collect the earnings and income generated by NRI within India. Once your NRO account is activated, you can apply for the Mutual Fund KYC for further steps.
Step 2: SBNRI allows KYC-compliant NRIs/OCIs to easily invest in mutual funds in India from their country of residence. You can simply download the SBNRI app and follow these procedures:
- To complete your KYC you will need the below-mentioned documents for validation:
- PAN Card
- Overseas Address Proof: Any water/electricity bill, internet/postpaid mobile bill, rent agreement, driver’s license, etc.
- Passport: Front and back
- Passport size photograph
- Signature
2. Once your KYC is approved, you need to link your NRO or NRE bank account and start investing in the mutual funds.
SBNRI is an authorized Mutual Fund Distributor platform & registered with the Association of Mutual Funds in India (AMFI). ARN No. 246671. NRIs willing to invest in mutual funds in India can download the SBNRI App to choose from 2,000+ mutual fund schemes or can connect with the SBNRI wealth team to better understand Mutual Fund investments.
