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Industry officials say if inflows through new fund offerings

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Equity inflows, however, showed further signs of moderation.Equity schemes (including tax savings ones) registered inflows of Rs 83 billion, down 11 per cent over the previous month.The equity inflow tally for August was down 36 per cent compared to the previous four month average of Rs 131 billion.Industry officials say if inflows through new fund offerings (NFOs) are excluded, the slowdown could have been sharper.”We have seen quite a few NFOs, where units were allotted in August. A significant share of the equity inflows has come through these NFOs,” said Ashish Somaiya, MD and CEO, Motilal Oswal AMC.”Ex NFOs, it appears the regular course of business is witnessing sharper outflows, even as SIPs are steady,” Somaiya added.Amfi data shows Rs 36 billion came in through equity NFOs in August, accounting for 43 per cent of monthly inflows.Flows through systematic investment plans (SIPs) continue to be encouraging and will help offset cyclicality risks, said industry players.”Despite market volatility, the SIP book remains intact. Independent financial advisors even suggest that it wouldn’t be surprising if SIP contribution surges to as much as Rs 90 billion in the coming days,” said Radhika Gupta, chief executive officer, Cheap jordans shoes Edelweiss MF.The total amount collected through SIPs stood at Rs 76.58 billion in August, slightly higher than last month’s tally of Rs 75.54 billion.The total number of SIP accounts stood at 23.9 million, as against 23.3 million in July.On the debt front, liquid and money market schemes got the largest share of industry inflows.At Rs 1.7 trillion, inflows into such schemes accounted for 98 per cent of monthly flows.”We are witnessing a mature and evolved behaviour from retail mutual fund investors.

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