3 Indian banks make it to top 50 by assets in Asia-Pacific region in 2023
In the list, State Bank of India is at the 20th position, HDFC Bank at 33 and ICICI Bank at 48th spot.
Equity mutual funds saw net inflows dip sequentially in July on the back of outflows from large-cap funds, but flows remained positive for the 29th consecutive month, says Deepak Jasani, Head of Retail Research, HDFC Securities.
Net investments into actively managed equity schemes fell 11.7 per cent to Rs 7,626 crore in July from Rs 8,638 crore in June. SIP inflows stood at Rs 15,242.7 crore during July, a new record high, he added.
NS Venkatesh, CEO, AMFI, stated: “The surge in retail investors’ interest in mutual funds has translated into impressive inflows across scheme categories. The star performer this month has been Systematic Investment Plan (SIP), with an impressive 33,06,337 new SIP accounts registered and a record Rs 15,245 crores of monthly contribution. Moreover, the industry’s Assets Under Management (AUM) have grown by 25 per cent YoY, underscoring mutual funds’ significance in financialisation of savings.
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“Investors in B30 cities are indirectly investing in stock markets via SIPs in Equity Mutual Funds.
“Short term debt fund inflows continue due to treasury management by banks and corporates, while hybrid categories like multi-asset allocation funds have seen increased investor interest. Investors are increasingly realising that mutual funds have various options suited for their risk profile and goals and that they can partake in the India growth story by investing as little as Rs 500 a month.”
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