World’s largest contract chipmaker TSMC sees August revenue surge over 53% to record high
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Mutual fund systematic investment plan (SIP) inflows surged to a record ₹32,297 crore in August, a 1% increase from the previous month's ₹31,861 crore, according to data released by the Association of Mutual Funds in India. Despite geopolitical tensions and rising crude oil prices, which had pushed up equity market turbulence, investors remained confident in India's growth story and the Reserve Bank of India's capacity to absorb $127 billion.
New SIP accounts opened reached an all-time high of 66.39 lakh, while closures were 53.82 lakh, resulting in 10.62 crore active accounts overall. Venkat Chalasani, Chief Executive of AMFI, attributed the surge to investors' belief in India's growth trajectory and the RBI's effective management of foreign exchange reserves. Equity inflows grew 19% to ₹29,329 crore, while outflows from large-cap funds decreased slightly to ₹1,147 crore.
Mid-cap funds saw higher inflows of ₹6,989 crore, while tax saver and dividend yield funds registered net outflows of ₹1,079 crore and ₹134 crore, respectively. Overall, assets under management in the industry rose to ₹87.07 lakh crore, largely due to mark-to-market gains.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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