At 23,000 crore, monthly SIP flows hit new peak in July

In July, Mumbai’s equity markets hit new highs, boosting retail investors’ confidence in mutual funds, as SIP contributions soared to a record Rs 23,332 crore. The MF industry’s total assets under management reached nearly Rs 65 lakh crore. Despite a slight dip in equity fund net inflows, debt funds saw nearly Rs 1.2 lakh crore in inflows.