Assets base of equity mutual fund surged to a record high of Rs4.5 lakh crore at the end of July, primarily on account of sharp inflow in such schemes. Market experts attributed the rise in the inflow to investments in Systematic Investment Plans (SIPs) and strong participation from retail investors.
Besides, declining interest rate for bank deposits is encouraging investors to put a big chunk of their savings into equities, they added. Equity funds, which also include equity-linked saving schemes (ElSS) saw net inflow of Rs11,985 crore during April-July period of the current financial year.