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    ETMONEY corners 28% market share of mutual fund industry's net equity flows in June 2020

    Synopsis

    ETMONEY drives strong growth amidst a 95% industry-wide slump in equity investments, clocks big amidst the a nationwide decline in SIP inflow.

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    New Delhi: Global economic uncertainties have triggered a 95% slump in equity mutual fund sales, according to key data released by the Association of Mutual Fund in India (AMFI). Beating the trends though, ETMONEY, a wealth management app, continued to generate higher value by driving 28% of equity mutual fund sales of the industry in June ‘20, reaffirming its position as the country’s go-to wealth management app.

    According to the latest data released by the Association of Mutual Fund in India (AMFI), net inflows in equity mutual funds in the month of June 2020 fell by almost 95% to Rs. 240 crore from Rs.5,256 crore in May. Yet still, ETMONEY witnessed a surge and contributed a major chunk of net sales of mutual funds.

    Of the industry’s equity mutual fund net sales, ETMONEY's share accounted for Rs.68.7 crore in investmenti.e. 28% of net sales of the entire industry. At a time when large-cap and multi-cap funds posted a combined negative net sale of close to Rs. 1,000 Cr, ETMONEY saw net sales in excess of Rs.25 crore in these two categories. It also accounted for nearly 14% of total net sales in the mid-cap category in the month of June. As compared to the industry-wide net sales of Rs 36.70 crore for the category, ETMONEY witnessed a net sale of Rs 4.9 crore. Besides equity funds, the platform also saw net positive sales in hybrid funds while the industry had over Rs. 3,000 crore negative net sales excluding arbitrage funds.

    “We have undertaken various initiatives to help Indian investors make the right investment decisions during the ongoing COVID-19 outbreak. From offering valuable investment advice by CEOs of top AMCs via videos to smart interventions at key investment decision-making points on our platform, ETMONEY's strategy to stay with the investor at every step of the journey has worked exceptionally well. Many of the categories where our investors did well are the ones that are primarily suited for long-term wealth creation, compared to some industry inflows coming on the back of potentially not-so-sustainable returns," said ETMONEY founder-CEO Mukesh Kalra.

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    During this period, ETMoney also witnessed a growing SIP book and reduced SIP cancellations. The net inflow in SIPs across the entire industry has been falling month-on-month in the last three months, i.e. April, May, and June. In contrast, ETMONEY has registered a 1 percent month-on-month growth in the same period.

    Graph2


    (Disclaimer: ETMONEY is a Times Internet product, which is also is the publisher of this website)


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