According to data released by the Association of Mutual Funds in India (Amfi) on Friday, inflows into open-ended equity mutual funds fell 31 per cent to Rs 6,119.58 crore in August as investors continued to pull money off the table in the face of rising interest rates and persistent inflation.

Equity fund inflows hit a 10-month low in August, but they have now been positive for 18 successive months. Systematic investment plans (SIPs) have seen strong retail involvement despite market volatility.

According to data, the monthly SIP contribution in August reached an all-time high of $12,693.45 crore. Mutual Fund SIP Assets Under Management (AUM) at Rs 6.39 lakh crore as a percentage of Mutual Fund Average, Assets Under Management (AUM) at Rs 39.53 lakh crore stood well above 16 per cent, indicating healthier and more methodical investment by small investors.

Additionally, in August, SIP accounts reached a record high of Rs 5.71 crore, surpassing the previous high of Rs 5.61 crore. Open-ended debt schemes in the fixed-income sector saw net inflows of Rs 49,164.29 crore during August. As a result, in August, the mutual fund industry’s net assets under management reached a record high of Rs 39.33 lakh crore, up 7 per cent year over year.

Flexi-cap, mid-cap, small-cap, big & mid-cap, and focused schemes emerged as the top five in the net flows for the equity, or growth, category.

Liquid funds, ultra-short duration funds, and money market funds stood out as the top three categories in the fixed income or debt segment that saw positive flows. The remaining nine categories all saw positive flows.

The report also revealed that average AUMs for retail equity schemes reached an all-time high of $20.01 lakh crore in August and increased by 20 per cent year over year to reach an all-time high of $20.06 lakh crore for net AUM under retail equity schemes (equity + hybrid + solutions oriented).