Inflows into equity mutual funds surged by 17% to Rs 40,608.19 crore in June, setting a new high, according to the latest data released by the Association of Mutual Funds of India (AMFI) on July 9. This follows a record high net inflow of Rs 34,697 crore in May, which had surged by 83.42%.

The mutual fund industry’s assets under management (AUM) rose to Rs 61.16 lakh crore in June. Meanwhile, debt mutual funds saw net outflows of Rs 1,07,357.62 crore during the month. Overall, open-ended mutual funds experienced net outflows of Rs 43,108.80 crore in June.

Top gainers amongst Equity mutual funds

Inflows into open-ended equity funds have remained positive for the 40th consecutive month. Most of these inflows came through Sectoral/Thematic Funds, which received a net investment of Rs 22,351.69 crore in June. This was driven by new fund offers (NFOs), with nine new funds collecting Rs 12,974 crore during the month.

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Within the equity fund category, multicap funds saw inflows jump by 78% to Rs 4,708.57 crore. Investments into large-cap funds rose by 46% to Rs 970.49 crore. However, small-cap funds experienced a 17% dip in inflows to Rs 2,263.47 crore, while mid-cap fund investments slipped by 3% to Rs 2,527.84 crore.

Additionally, Dividend Yield Funds received Rs 520.07 crore, and Value Fund/Contra Funds had inflows of Rs 2,027.05 crore. Flexi Cap Funds recorded inflows of Rs 3,058.81 crore.

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AMFI Rejig- Stocks upgraded to Large cap from Midcap

Just to remind our readers AMFI in its semi-annual rejig has set the large cap threshold at Rs 84,300 crore, up from Rs 67,000 crore in December 2023. More than 60% of the market cap comprises of the top 100 large caps . Most equity fund managers choose or cut down weightage of the stocks based on the business fundamentals but the status of the stock impacts the overall position. 

As a result of the recent rejig, the new entrants in the large cap category include Hero MotoCorp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals (BHEL), Samvardhana Motherson International and Bosch.

Within the equity fund category, multicap funds saw inflows jump by 78% to Rs 4,708.57 crore.

Conversely, some stocks have moved from large cap to midcap, including Berger Paints, SBI Cards & Payment Services, Marico, SRF, ICICI Lombard General Insurance Company, ICICI Prudential Life Insurance Company, and Polycab India.

Stocks upgraded to Midcap from smallcap

In the smallcap to midcap transition, 19 stocks have been upgraded. This list includes HUDCO, Bharat Dynamics, IRB Infrastructure Developers, MRPL, Global Health, BSE, Hitachi Energy, NLC India, Tata Investment Corporation, and Cochin Shipyard, among others. Additionally, Bharti Hexacom and Go Digit General Insurance are new additions to this category.

Within the equity fund category, multicap funds saw inflows jump by 78% to Rs 4,708.57 crore.

New Entries in Small Cap Funds 

Meanwhile, 32 stocks have entered the smallcap segment. Some notable entrants are Aadhar Housing Finance, Juniper Hotels, Jana Small Finance Bank, Le Travenues Technology, Awfis Space Solutions, DEE Development Engineers, Popular Vehicles and Services, and Capital Small Finance Bank.

Within the equity fund category, multicap funds saw inflows jump by 78% to Rs 4,708.57 crore.