The inflows into the equity mutual funds surged to a fresh high by 17% to Rs 40,608.19 crore in June, data released by the Association of Mutual Funds of India (AMFI) said on Tuesday.

Net inflow into equity mutual funds had surged by 83.42% to a record high of Rs 34,697 crore a month ago.

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The data further said the Assets under management (AUM) of the mutual fund industry rose to hit Rs 61.16 lakh crore in June, while the debt mutual funds saw net outflows of Rs 1,07,357.62 crore during the month.

Overall open-ended mutual funds saw net outflows of Rs 43,108.80 crore during the month.

Inflows into open-ended equity funds have remained in the positive zone for the 40th month in a row.

Most inflows among equity funds came through Sectoral/Thematic Funds, with the category getting net investment of Rs 22,351.69 crore in June, AMFI said.

It highlighted that the inflows into sectoral/thematic funds were fuelled by new fund offers (NFOs) where nine new funds collected Rs 12,974 crore during June.

Further, among the equity fund category, multicap funds inflows jumped 78% to Rs 4,708.57 crore. Additionally, investments into largecap funds rose 46% to Rs 970.49 crore.

However, smallcap funds saw a 17% dip in inflows to Rs 2,263.47 crore, while investments into midcap funds slipped 3% to Rs 2,527.84 crore.

It is to be highlighted that June was a volatile month for equities as an asset class with general elections results triggering a sharp dip and then a quick rebound in benchmark indices in the first week, after the results were announced.