Equity mutual funds attracted Rs 1,942 crore in net inflow in August, even as the outflow from the debt and money market funds led to a decline of 4% in the domestic mutual fund industry's total assets under management to Rs 6.97 lakh crore.
Analysts credited the net inflows in equity funds, a month after the industry witnessed a net outflow of Rs 729 crore, to the cheaper valuations of stocks which offered more units to the mutual fund investors. "The near-17% fall in markets over the past nine months has given investors an opportunity to buy equities at cheaper valuations. High net worth investors have begun investing in markets; many of them are now investing in markets through mutual funds," said Vijai Mantri, managing director, Pramerica Mutual Fund.
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