Under the old tax regime, investments in Equity Linked Savings Scheme (ELSS) are the only instrument eligible for a deduction under Section 80C of the Income Tax Act, subject to a 3-year lock-in period.
Equity MFs' net inflows falls sharply to Rs 8,667 cr in August: AMFI freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.
Sectoral, mid cap, small cap funds witness higher flows
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Investors continued to add money to equity mutual funds in April, albeit at a slower pace, with experts anticipating the gravitation of savings to financial assets when the second Covid surge abates and localized curbs on mobility and businesses ease.
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Investors continued to add money to equity mutual funds in April, albeit at a slower pace, with experts anticipating the gravitation of savings to financial assets when the second Covid-19 surge abates and localized curbs on mobility and businesses ease.
Inflows into equity schemes were at Rs 3,437 crore, much lower than the Rs 9,115 crore in March. Money also came into debt funds, with the category seeing inflows of Rs 1,00,903 crore, taking assets under management of the industry to Rs 32.42 lakh crore, higher than Rs 32.17 lakh crore as of March.
Investment by mutual funds (MFs) in equities will continue in coming months, say experts.
MFs put in a net amount of Rs 5,526 crore in equities in the month of April.
Mutual funds had been withdrawing money from equities since June 2020.
New Delhi, May 9 (PTI) Continuing their buying spree for the second straight month, mutual funds invested Rs 5,526 crore in stocks in April with fund managers sensing opportunities after some consolidation in the market.
Investment by mutual funds (MFs) in equities will continue in coming months seeing the increase in user growths as multiple fintech players are entering into this space, Kaushlendra Singh Sengar, founder and CEO at INVEST19, said.