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Mutual fund investors redeem Rs 10,000 cr from SIP accounts in Nov

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redeemed more than Rs 10,000 crore from systematic investment plan (SIP) accounts in November to cash in on the market rally. Redemptions were the highest since at least April 2021, when the industry started disclosing the net inflow data.


“Investors felt that the all-time-high levels in November was a good point to exit with gains. Distributors ideally try to discourage investors from exiting on account of market levels, but not all investors listen,” said Sadashiv Phene, a Mumbai-based mutual fund distributor.


Fresh investments remained undisturbed. In November, investors poured in a record sum of Rs 13,300 crore through the systematic route.


As a result, the net inflows came in at a paltry Rs 3,260 crore, the lowest since October 2021, data from the Association of in India showed.


In November, heightened redemptions brought down net investments in equity funds to Rs 2,260 crore. Net inflows were dragged down by a surge in redemptions. Investors pulled out Rs 26,030 crore from active equity schemes, 60 per cent more than October and the highest since September 2021.


Net inflows in the top two equity schemes—flexicap and largecap—turned negative in November. While investors pulled out Rs 1,040 crore net from largecap schemes, flexicap funds had an outflow of Rs 860 crore.


Net SIP inflow down 57% MoM in Nov











Month

Gross SIP inflow

Redemptions

Net SIP inflow

Nov-22

13306

10050

3257

Oct-22

13041

5542

7499

Sep-22

12976

6578

6399

Aug-22

12693

6563

6130

Jul-22

12140

4328

7812

Jun-22

12276

3676

8600




In Rs crore | Source: Amfi

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