Mutual Fund log Rs 51k-cr inflow in Oct

Investors have pumped over Rs 51,000 crore into various mutual fund schemes in October after pulling out more than Rs 16,000 crore in the preceding month, latest data with industry body Amfi showed.

With the latest inflow, total infusion in MF schemes reached to over Rs 2.5 lakh crore in the first seven months (April to October) of the current fiscal, Association of Mutual Funds in India (Amfi) noted.

"Mutual fund industry has been among the biggest beneficiaries of demonetisation that resulted in low interest rates on bank deposits. The move also helped investors to shift from physical assets to financial savings. Years
of perseverance by industry players and the regulator seems to have paid off, finally," Bajaj Capital CEO Rahul Parikh said.