Top 5 equity mutual funds in March 2023

Investors continued to repose faith in equity as an asset class last month. Inflows into Indian equity mutual funds jumped 31% sequentially to ₹20,534.21 crore in March, the highest in 12 months, data from the Association of Mutual Funds in India (AMFI) showed. However, among all mutual fund segments, dividend yield funds attracted highest flows in the month of March.

Akhil Chaturvedi, Chief Business Officer, Motilal Oswal AMC said equity funds continue their uptrend in terms of Net Inflows: 20.5K crore vis-à-vis 15.7K cr in February. As a result of the financial year end, ELSS Funds mobilized gross inflows of 4.2K crre vis-à-vis 2.3K crore in February, an 84% jump. Thematic/Sectoral Funds continue to attract the highest inflows month after month. Small cap funds continued to gather flow momentum building on recent months trend.

Interestingly, Dividend Yield funds attracted highest flows reflecting the strong performance of dividend factor index. Hybrid Funds saw net redemptions to the tune of ~12.4K cr. This was predominantly on account of outflows from Arbitrage Funds, he added.

These are top 5 equity MF schemes in March that attracted highest investment 

Sectoral/Thematic Funds - ₹3,928.97 crore

Dividend Yield Fund - ₹3,715.75 crore

ELSS- ₹crore 2,685.58

Small Cap Fund- ₹2,430.04 crore

Mid Cap Fund- ₹2,128.93 crore

According to the data released by the mutual funds body Amfi on Thursday, the industry's net AUM (Assets Under Management) rose to ₹39,42,031 crore, while average AUM hit ₹40,04,638 crore, up from ₹37,56,682.57 crore and ₹37,70,295.79 crore, respectively, in March 2022.

Jean Christophe, Director and Chief Marketing Officer, Sharekhan by BNP Paribas said the second best performer after equity MFs would be other schemes which include index funds, Gold ETFs, other ETFs, and fund of fund investing overseas that has witnessed exponential growth since the beginning of the year. Index funds were the maximum contributors in this category with inflows of nearly 27, 228 crores which can be attributed to them being low-cost funds.

This article taken by livemint.com