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Both mid-cap and small-cap mutual fund schemes have continued to attract significant investor interest, having garnered about Rs 30,350 crore in inflows during the April-September period of the current financial year. Last year, as data from <keyword id="6359050" type="General" weightage="20" keywordseo="AMFI" source="Orion">AMFI</keyword> showed, the total inflows in both these segments during the same period were only marginally higher at Rs 32,924 crore. Data from Value Research suggests that mid-cap funds have generated 46.25% returns over the past year, while small-cap funds have yielded returns worth 44.17% during the same time. This is far better than their 3-year returns, which stand at 20.67% for midcaps and 21.64% for smallcaps. The returns further moderate over 5 years to 32.44% for small caps and 27.94% for midcaps. Inflows in mid- and small-cap funds have only grown from strength to strength during the current year, despite market watchdog <keyword id="35210" type="General" weightage="20" keywordseo="SEBI" source="Orion">SEBI</keyword> repeatedly highlighting the high risks both these categories entail. Between January and March 2024, small-cap funds saw inflows worth Rs 6,085.27 crore, while mid-cap funds were a little behind, garnering inflows worth Rs 4,887.05 crore. Between April and June this year, small-caps saw inflows worth Rs 7,196.8 crore. At the same time, midcaps saw inflows worth Rs 6,926.60 crore. In line with this increase in inflows, the number of investors (folios) in the two schemes shot up by 1.32 crore year-on-year to nearly 4 crore in the six-month period ended September 30, 2024. Since 2020, the small-cap universe (i.e., companies with a market cap of less than Rs 2000 crores) has grown nearly fourfold, offering investors a wide range of investment opportunities. Data from Trust Mutual Fund also shows that small-cap funds have also emerged as great generators of long-term wealth. Between August 2014 and August 2024, the <keyword id="6354813" type="General" weightage="20" keywordseo="Nifty" source="Orion">Nifty</keyword> 100 total return index (TRI) has yielded a CAGR of 14.7%. In contrast, the Nifty smallcap 250 TRI has registered a CAGR of 18.2% "Small caps will continue to grow at a faster rate for years to come. I expect the inflows to continue as Indians want to invest in the high-growth sectors. Small-cap funds should be seen as an integral part of one's portfolio allocation and not a tactical play," Trust Mutual Fund CEO Sandeep Bagla told PTI. Individually, mid-cap funds saw an inflow of Rs 14,756 crore, and small-cap funds attracted Rs 15,586 crore in the first half of FY25. This aggregates the total inflow to Rs 30,342 crore, the data showed. In addition, the stress test in March 2024 has also played a role, reinforcing confidence by ensuring that fund managers are prepared to handle market volatility, Feroze Azeez, Deputy CEO, Anand Rathi Wealth Ltd, said. "With the mid-cap and small-cap segments projected to grow at 20 percent and 25 percent, respectively, in FY25, we expect inflows to remain strong, especially as SIP inflows continue to hit new peaks," he told media.

Investors pour in Rs 30,350 crore in mid and small cap funds in the first half of 2024

The deluge of funds in sectoral, or <keyword id="20296225" type="General" weightage="20" keywordseo="Thematic-Funds" source="keywords">thematic funds</keyword> continued unabashed in September, with investors pouring in Rs 13,254.63 crore via 183 schemes into this category, as <keyword id="20090036" type="General" weightage="20" keywordseo="AMFI" source="keywords" meta.keywordsubtype="org" meta.entityname="AMFI" meta.hostid="261" meta.entityid="AMFI">AMFI</keyword> data showed. In August too, investors had put in Rs 18,117.18 crore via 179 schemes here. The trend has been going strong since July, 2024, which saw <keyword id="20444306" type="General" weightage="100" keywordseo="Sectoral-Funds" source="keywords">sectoral funds</keyword> garner Rs 18,386.35 crores via 174 schemes. In August, 5 new thematic funds were launched on the momentum, which raised Rs 10,202 crore. Last month saw the launch of 4 new sectoral schemes, which garnered around Rs 8,000 crore. However, inflows into <keyword id="21366551" type="General" weightage="20" keywordseo="Equity-Schemes" source="keywords">equity schemes</keyword> fell by 10% in September to Rs 34,419 crore, as compared to Rs 38,239 crore in August 2024. Between April and June 2024, equity <keyword id="19929240" type="General" weightage="20" keywordseo="Mutual-Funds" source="keywords">mutual funds</keyword> had seen a total inflow of Rs 94,222.27 crore, out of which inflows in sectoral funds (Rs 46,731.17 crore) alone were a whopping 50%. While the quantum of inflow in equities, and sectoral funds certainly seems to have tapered down a bit, it continues to remain significantly strong, indicating heavy <keyword id="20354507" type="General" weightage="20" keywordseo="Investor-Interest" source="keywords">investor interest</keyword> in this largely risky segment. Over the last year, AMCs have been pumping out more and more NFOs in this space in a bid to get a bigger chunk of investor's money, and also regulations restrict them from launching new schemes under other categories. However, with the ongoing geopolitical concerns in Middle East, and rising prices of crude oil, the equity markets are set for volatile, uncertain times ahead. However. thematic funds have had a good run so far this year, with YTD (yield to date) of 28.69%, and returns worth 44.71% over the past year. Says Deepak Ramaraju, Senior Fund Manager, Shriram AMC, "On the prima facie, it looks like investors are concerned about the valuation, increasing geo-political uncertainty and moderation in earnings and hence, we have seen redemption from funds. But we will have to wait for how the global events play out – like the Chinese stimulus, the Fed Decision and the RBI’s MPC policy stance in the months to come". As such, you should think twice and carefully assess the risks involved before dipping your hands in the gush of sectoral funds right now. While they may be all the rage, identifying the right sector or theme at the right time is a job best done by professionals. <h2>Don't ignore the risks involved</h2>Siddharth Alok, AVP Investments, Multi Ark Wealth-Epsilon Money explains that sectoral funds come with high risk, since they are more vulnerable to sector-specific downturns. This might not suit the risk palate of many investors. "All markets have cycles, where some sectors naturally outperform while some underperform in the short to medium term. For instance, industrial and consumer discretionary sectors may perform well in a growing economy, while defensive sectors like utilities or healthcare may perform better during downturns". "To make the most of your investments in sectoral funds, it is essential to time your entry and exit in these sectors, which is a difficult job for a regular investor", he continued. In order to maximise your returns in thematic funds, either investors i.e. you should understand the dynamics of the underlying sector or theme, or you should have qualified and experienced advisors who can help you take the right decision with regards to such investments. As a matter of fact, you should approach any new funds only after comparing them with similar existing offerings and ensuring their aptness in your portfolio. As an astute investor, you should understand that such funds offer a very high-risk high return investment proposition and may not fit in the portfolio of every investor. Investing in every <keyword id="20498936" type="General" weightage="20" keywordseo="NFO" source="keywords">NFO</keyword> (New Fund Offering) without assessing the sector's viability and future growth, merely on the back of its current hype is unadvisable.

The newest fad in mutual fund multiverse: Sectoral Funds. Here's why you should not over-invest in them

The ongoing <keyword id="20168812" type="General" weightage="20" keywordseo="sell-off" source="keywords">sell-off</keyword> by <keyword id="19900795" type="General" weightage="20" keywordseo="foreign-investors" source="keywords">foreign investors</keyword> continues to loom large on <keyword id="19991358" type="General" weightage="20" keywordseo="Indian-markets" source="keywords">Indian markets</keyword>. In October so far, <keyword id="19950996" type="General" weightage="100" keywordseo="FIIs" source="keywords">FIIs</keyword> (foreign institutional investors) have already withdrawn Rs 74,732.20 crores. Not for a single day this month have FIIs poured money into <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>. The sell-off started on October 1, when foreign investors withdrew Rs 5,579.35 crore. The highest withdrawal of this month came on October 3. 2024, when FIIs sold Rs 15,243.27 crore worth of assets. Yesterday, i.e. on October 17th, FIIs pulled out Rs 7,421.40 crore from the markets. Experts state that FIIs are continuously putting pressure on Indian stocks, but the situation is expected to improve in the coming weeks with a sharp recovery anticipated. "We remain optimistic as the FII selling may have crossed the half way mark already and as it tones down, the domestic flows will help a recovery. When the recovery happens it will sharp and concentrated, giving long term investors motivation to stay put during the harrowing volatility of a roller coaster market that has repeatedly tested support levels but remains oversold, hence ripe for a bounce sometime in the next few weeks" said Ajay Bagga, Banking and Market Expert to ANI. Between January and October 2024, foreign investors have invested a net of 1,87,298 crore in India. This year, apart from the current sell-off, January, April and May also saw <keyword id="23593694" type="General" weightage="20" keywordseo="investment-outflows" source="keywords">investment outflows</keyword> by FIIs. The intense selloff comes right after September, when foreign investors invested a record Rs 93,538 crore in the Indian markets. June, July and August 2024 had also seen positive inflows from foreign investors of about Rs 41,757 crore, Rs 48,796 crore and Rs 25,493 crore respectively. However, a resilient, strong domestic investor base is keeping Indian markets afloat. <keyword id="21714171" type="General" weightage="20" keywordseo="DIIs" source="keywords">DIIs</keyword> (domestic institutional investors) have been consistent buyers throughout this month, largely balancing the outflows prompted by FIIs. In October so far, DIIs have invested about Rs 68,961.37 crore in the market, with the highest monthly inflow coming in on October 7th. While DIIs invested Rs 13,245.12 crore in Indian markets on that day, foreign investors withdrew Rs 8,293.41 crore. Yesterday i.e. on October 17, 2024, DIIs invested Rs 4,979.83 crore in the markets. At present, experts note that DIIs are flush with cash at the moment, with <keyword id="20052797" type="General" weightage="20" keywordseo="mutual-fund-inflows" source="keywords">mutual fund inflows</keyword> reaching an all-time high of Rs 24,509 crore in September 2024, a record 52.78% jump from the corresponding year ago period, where they stood at Rs 16,042 crore. Generally, keeping around 3-5% of their assets in cash is considered an acceptable practice amongst mutual fund houses. As per reports, mutual funds are currently in possession of Rs 1.86 lakh crore worth of cash, which constitutes 5.03% of their total AUM as of September 2024.

Exodus of foreign investors from Indian markets continues unabated in October. But DIIs are holding the fort steady

Focused <keyword id="19929240" type="General" weightage="20" keywordseo="mutual-funds" source="keywords">mutual funds</keyword>, which invest in a concentrated portfolio of <keyword id="19905382" type="General" weightage="20" keywordseo="stocks" source="keywords">stocks</keyword>, are gaining traction among investors with the <keyword id="22748135" type="General" weightage="20" keywordseo="asset-base" source="keywords">asset base</keyword> of the category growing to Rs 1.43 lakh crore in three months ended June 2024, marking an increase of 31% from a year ago. Interestingly, some of the focused funds offered by the mutual fund houses such as <keyword id="22748136" type="General" weightage="20" keywordseo="Invesco-India-Focused-Fund" source="keywords" meta.keywordsubtype="org" meta.entityname="Invesco India Focused Fund" meta.hostid="261" meta.entityid="Invesco India Focused Fund">Invesco India Focused Fund</keyword>, Mahindra Manulife Focused Fund, JM Focused Fund, and <keyword id="19896378" type="General" weightage="20" keywordseo="hdfc" source="keywords">HDFC</keyword> Focused 30 Fund delivered a remarkable return of 40-60% in the past year, industry data showed. Focused funds are a type of mutual fund where the fund manager selects a concentrated portfolio of stocks, typically limited to a maximum of 30 due to regulatory constraints. This requires the fund manager to be highly skilled in stock selection, as they need to identify the best investment opportunities across the market without bias toward any specific market cap or sector. According to data from the <keyword id="20090034" type="General" weightage="20" keywordseo="association-of-mutual-funds" source="keywords">Association of Mutual Funds</keyword> in India (Amfi), the assets under management (AUM) of the focused funds were at Rs 1.43 lakh crore in the June quarter 2024-25 as compared to Rs 1.09 lakh crore in April-June FY24. This growth highlights the appeal of focused funds as an alternative to portfolio management services (<keyword id="19950020" type="General" weightage="20" keywordseo="pms" source="keywords">PMS</keyword>), especially with recent tax changes that make PMS less attractive due to higher costs and tax implications, Feroze Azeez, Deputy CEO, of Anand Rathi Wealth Ltd, said. "With the increase in taxation on both small-term capital gain tax and long-term capital gain tax, PMS portfolios are expected to see a drop in post-tax returns. For example, a PMS portfolio generating a pre-tax return of 14 % could see post-tax returns drop from 11.73 % to 11.29 %. This shift could lead to fund managers churning portfolios less frequently, which in turn will be affecting returns for investors," he added. Focused funds follow a similar concentrated portfolio strategy where the fund manager picks the top stocks and offers flexibility across market caps. Thus, becoming a more attractive option for investors looking to optimize their returns. Industry experts recommend investing in focused funds through systematic investment plans (SIPs) as a smart strategy in the current market environment of sector rotation and high valuations. Since these funds invest in a small number of stocks, SIPs can help reduce risk by spreading out investments over time. Overall, there are 31 focused schemes offered by different mutual fund houses in the category. These schemes have given returns of 19-60% in the last one year. In terms of returns, smaller funds have performed exceptionally well. The Invesco India Focused Fund delivered a remarkable return of over 60% in the past year, while Mahindra Manulife Focused Fund provided around 50% returns and JM Focused Fund offered a return of 45% during the period. With a corpus of Rs 1,552 crore as of June 2024, Mahindra Manulife Focused Fund has consistently performed well, securing the second rank for 1, 2, and 3-year periods. The fund delivered returns of 50%, 32%, and 26% over these periods, respectively. HDFC Focused 30 Fund achieved the top rank over the 3 years with a return of 28.63 %, while JM Focused Fund secured the third rank with a 25 % return during the same period. "The success of focused funds underscores the importance of skilled fund management and strategic stock selection," an industry expert said. Focused funds opt for a more targeted strategy rather than the broad diversification typical of traditional mutual funds. This approach helps fund managers make investments in a carefully selected group of stocks, reflecting their strongest investment beliefs. The concentrated nature of these portfolios requires careful selection of each stock, as the fund's performance heavily depends on these choices. Although these funds hold a limited number of stocks, they are structured to be sufficiently diversified to effectively manage risk. Overall, the assets of the equity mutual funds rose to Rs 27.6 lakh crore in June 2024 from Rs 17.43 lakh crore in June 2023.

Focused MFs' asset base rises 31% to Rs 1.43 lakh cr in June qtr; up to 60% returns last year

Rising awareness of <keyword id="20041501" type="General" weightage="20" keywordseo="financial-planning" source="keywords">financial planning</keyword> has fueled a 256 % increase in retirement mutual fund <keyword id="20019621" type="General" weightage="20" keywordseo="AUM" source="keywords">AUM</keyword> in the last five years, according to a report. Factors such as rising <keyword id="21344413" type="General" weightage="20" keywordseo="healthcare-costs" source="keywords">healthcare costs</keyword>, increasing nuclear families, and higher <keyword id="20188311" type="General" weightage="20" keywordseo="life-expectancy" source="keywords">life expectancy</keyword> are likely to fuel further growth in this sector, an ICRA Analytics report said. "Assets under Management (AUM) of these funds have grown by over 256 % in the last five years, reaching Rs 29,903 crore in July 2024, compared to Rs 8395 crore in July 2019," it said. ICRA said the growing awareness has led to a surge in the number of folios, which has increased by 17.44 % in the last five years to 29.36 lakh in July 2024, up from 25 lakh in July 2019. The number of schemes has also increased from 21 in 2019 to 29 as of July 2024. In July 2024, retirement funds received net inflows worth Rs 147.16 crores. The net inflows dipped in the month prior, standing at Rs 125.06 crore. Retirement funds have seen a consistent stream of inflows this year, with the January-March quarter recording inflows worth Rs 406.90 crore, which grew slightly to Rs 602.46 crore between April-June 2024. A retirement mutual fund is a specialized investment vehicle, also known as a solution oriented fund, which is designed to provide a secure and comfortable post-retirement life. The fund focuses more on equity, or growth opportunities early on in the tenure of the fund. But, in order to provide stability, the fund begins to rebalance and invests more in debt securities, as the individual ages and approaches retirement, where they will need a constant stream of income. These funds invest in both equity and debt, aiming to balance <keyword id="23041622" type="General" weightage="20" keywordseo="wealth-appreciation" source="keywords">wealth appreciation</keyword> and preservation offering a <keyword id="23041623" type="General" weightage="20" keywordseo="regular-income-stream" source="keywords">regular income stream</keyword> during retirement. The focus is largely on investing in steady instruments such as government bonds and more, in order to cushion any equity-related risks. Tpically, these funds have a lock-in period of five years or until retirement, which is generally between 58-60 years. However, experts note that a 5-year lock-in period could be discouraging for some investors. The average compound annualised returns on these funds stood at 26.21 %, 12.97 % and 14.09 % for a one-year, three-year and five-year period, the analysis found.

Assets under management of retirement mutual funds jumps 256% in 5 years

Domestic <keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">gold prices</keyword> have risen by 10% on a year-to-date basis on the back of the strength in global gold prices, which have surged by 18% year-to-date, driven by robust <keyword id="19894998" type="General" weightage="20" keywordseo="central-bank" source="keywords">central bank</keyword> purchases, heightened geopolitical risks, and growing expectations of a monetary policy pivot from the <keyword id="19901377" type="General" weightage="20" keywordseo="us-federal-reserve" source="keywords">US Federal Reserve</keyword>, according to the <keyword id="20195223" type="General" weightage="20" keywordseo="World-Gold-Council" source="keywords" meta.keywordsubtype="org" meta.entityname="World Gold Council" meta.hostid="153" meta.entityid="World Gold Council">World Gold Council</keyword>. The reduction in <keyword id="20069572" type="General" weightage="20" keywordseo="import-duty" source="keywords">import duty</keyword> has ignited a resurgence in gold demand across <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>. Reports from the recently concluded India International Jewellery Show indicate a substantial increase in order bookings from retailers, particularly in preparation for the upcoming festive and wedding season. Manufacturers have noted that in some cases, orders have reached levels not seen in several years, underscoring the strong buying interest among <keyword id="21595593" type="General" weightage="20" keywordseo="jewellery-retailers" source="keywords">jewellery retailers</keyword> and consumers alike. The trend of bar and coin buying has also remained robust, with both consumers and jewellers capitalizing on the more attractive prices to stock up for future manufacturing needs. Historical analysis suggests that Indian consumer demand, encompassing jewellery and bar and coin demand, could see an additional 50 tonnes or more in the second half of 2024. This potential increase is fueled by a combination of an initial boost in consumer appetite due to the more attractive prices and a longer-term alignment of local prices with international rates. In a notable shift, domestic gold prices, which had been trading at a discount to international prices for five consecutive months, have now started trading at a premium following the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> announcement. The discount had widened significantly in July, reaching a peak of around $80 per ounce in the third week of the month, driven by subdued demand and an increased supply of gold through various preferential trade agreements and unofficial channels. However, wholesalers who had inventory purchased under the old customs duty regime began selling gold at a premium to the landed cost to mitigate their losses, further supported by increased consumer demand. While the premiums have moderated recently, from $28 per ounce to around USD 5 per ounce, this shift highlights the changing market sentiment and the impact of rising international gold prices and potential inventory valuation adjustments. The changes introduced in the Union Budget, including a reduction in the long-term investment holding period and a lower tax rate, have made gold ETFs a more attractive investment option. Data from the Association of Mutual Funds in India (AMFI) reveals that net inflows into gold ETFs in July amounted to Rs 13.4 billion (approximately USD 160 million), marking the highest monthly inflows since February 2020 and an 84% increase compared to June 2024. Despite these inflows, the total assets under management (AUM) for Indian gold ETFs grew marginally by 0.3% from the previous month, reaching Rs 345 billion ($4.1 billion). This modest increase can be attributed to the 8 % fall in domestic gold prices following the import duty reduction. Year-to-date, net inflows into Indian gold ETFs have totalled Rs 45 billion ($543 million), with total AUMs rising by 48 % from a year ago. The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="153" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI) has continued its gold purchasing trend, although at a slower pace following a significant increase in June, when purchases reached 9.3 tonnes--the highest monthly total in nearly two years. Year-to-date, the RBI's gold acquisitions have totaled 44.3 tonnes, surpassing the total purchases of the past two years combined. The RBI's gold reserves have now reached a record 849 tonnes, representing 8.8% of total foreign reserves, compared to 7.5 % a year ago. In July, gold imports remained steady at $3.1 billion, maintaining the stable trend observed over the previous three months. Between April and July, imports averaged $3.2 billion, with volumes ranging between 43 and 47 tonnes during this period. The gold import bill for July 2024 was 11 % lower than the previous year, with an estimated 26% decrease in volume terms, around 47 tonnes. Despite a surge in international gold prices, domestic gold prices in India have experienced a notable decline, primarily due to the 9 % reduction in import duty announced in the Union Budget 2024-25. This policy change has led to a 6% decrease in the landed cost of gold, marking a shift in the domestic gold market dynamics.

Domestic gold prices surge 10% amid global price rally, central bank buying: World Gold Council

<keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">Investment</keyword> in <keyword id="20300870" type="General" weightage="100" keywordseo="equity-mutual-funds" source="keywords">equity mutual funds</keyword> surged over five-fold to Rs 94,151 crore in the June 2024 quarter against Rs 18,358 crore a year ago, driven by a strong <keyword id="21477327" type="General" weightage="20" keywordseo="economic-environment" source="keywords">economic environment</keyword>, supportive <keyword id="22575274" type="General" weightage="20" keywordseo="government-fiscal-policies" source="keywords">government fiscal policies</keyword>, <keyword id="19900618" type="General" weightage="20" keywordseo="investors" source="keywords">investors</keyword> confidence and robust <keyword id="21990858" type="General" weightage="20" keywordseo="stock-return" source="keywords">stock return</keyword>. This has also pushed the industry's assets under management (<keyword id="20019621" type="General" weightage="20" keywordseo="AUM" source="keywords">AUM</keyword>) by 59 per cent to Rs 27.68 lakh crore in June from Rs 17.43 lakh crore a year ago, data from the Association of Mutual Funds in India (<keyword id="20090036" type="General" weightage="20" keywordseo="AMFI" source="keywords">AMFI</keyword>) showed. The robust gain in the asset base was also replicated in the growth of investors in equity mutual funds, with the number of folios closing at 13.3 crore, adding an investor base of over 3 crore. The significant gain in equity folios indicates broader participation across investor segments, driven by improved <keyword id="19929245" type="General" weightage="20" keywordseo="financial-literacy" source="keywords">financial literacy</keyword> and accessible investment platforms, Trivesh D, COO of stock trading platform Tradejini, told PTI. According to the AMFI data, equity-oriented mutual fund schemes invested Rs 94,151 crore in the quarter ended June 2024. This comprises Rs 18,917 crore in April, Rs 34,697 crore in May and Rs 40,537 crore in June. The investment in equity-oriented mutual funds jumped five-fold to Rs 94,151 crore in the June quarter from Rs 18,358 crore in the quarter ended June 2023 and increased 32 per cent Rs 71,280 crore witnessed in the preceding March 2024 quarter. "The confluence of political stability, supportive government policies, and a favourable economic environment has significantly contributed to the impressive inflows into equity mutual funds, signalling a positive outlook for the sector," Trivesh said. Strong macroeconomic fundamentals, bolstered by supportive government fiscal policies like higher-than-budgeted tax collection growth, reduced revenue expenditures, and increased capital spending have helped in increasing the allocation to equity mutual funds, Feroze Azeez, Deputy CEO, Anand Rathi Wealth, told PTI. He further said that investors' confidence in the markets and historically strong returns given by Indian equities with relatively low risk also helped investors to move towards equity mutual funds. Additionally, the shift was further fuelled by a transition from traditional investments like deposits to mutual funds in pursuit of higher returns. "The long-term outlook remains positive, with expectations of 11-13 per cent annual returns for Indian equities, and equity mutual funds potentially delivering even higher returns," Azeez said. Within the equity segment, sectoral or thematic category attracted Rs 46,731 crore during the quarter under review, followed by Multi-cap (Rs 10,077 crore), Flexicap (Rs 8,387 crore), Large &amp; Midcaps (Rs 7,948 crore), Smallcap (Rs 7,197 crore) and Midcap (Rs 6,927 crore). Large-cap funds witnessed an infusion of Rs 1,991 crore during the April-June quarter of the current financial year (FY25). Moreover, inflows into the systematic investment plan (<keyword id="19956399" type="General" weightage="20" keywordseo="SIP" source="keywords">SIP</keyword>) have been rising continuously for the past several months. The monthly SIP contributions crossed the Rs 21,000 crore mark in June, with the total inflow reaching an all-time high of Rs 21,262 crore. This shows investors' commitment to disciplined and long-term investing. The fund infusion through the SIP route was Rs 62,537 crore in the April-June quarter of FY25, a remarkable surge from Rs 43,211 crore in the same quarter preceding the fiscal.

Investment in equity mutual funds surge 5-fold to Rs 94,151 cr in June qtr amid robust eco environment

New Delhi, <keyword id="21565143" type="General" weightage="20" keywordseo="net-household-savings" source="keywords">Net household savings</keyword> declined sharply by Rs 9 lakh crore to Rs 14.16 lakh crore in three years to 2022-23, according to the latest National Account Statistics 2024 of the Ministry of Statistics and Programme Implementation. The net <keyword id="20751315" type="General" weightage="20" keywordseo="Household-savings" source="keywords">household savings</keyword> peaked at Rs 23.29 lakh crore in 2020-21. These have been on the decline since then, the data showed. The net household savings declined to Rs 17.12 lakh crore in 2021-22 and dipped further to a five-year low of Rs 14.16 lakh crore in 2022-23. The previous low of net household savings was Rs 13.05 lakh crore in 2017-18 which increased to Rs 14.92 lakh crore in 2018-19 and Rs 15.49 lakh crore in 2019-20. The data showed that the <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> in <keyword id="19929240" type="General" weightage="20" keywordseo="mutual-funds" source="keywords">mutual funds</keyword> almost trebled to Rs 1.79 lakh crore in 2022-23 in three years from Rs 64,084 crore in 2020-21. It was Rs 1.6 lakh crore in 2021-22. The household investment in <keyword id="19907577" type="General" weightage="20" keywordseo="shares" source="keywords">shares</keyword> and debentures almost doubled to Rs 2.06 lakh crore in 2022-23 from Rs 1.07 lakh crore in three years from 2020-21. It was Rs 2.14 lakh crore in 2021-22. Bank advances (loans) to households have also doubled in three years to Rs 11.88 lakh crore in 2022-23 from Rs 6.05 lakh crore in 2020-21. It was Rs 7.69 lakh crore in 2021-22. Loans to households by financial corporations and non-banking financial corporations increased also fourfold to Rs 3.33 lakh crore in 2022-23 from Rs 93,723 crore in 2020-21. It was 1.92 lakh crore in 2021-22. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank">Top-selling cars in India in April 2024 – Tata Punch continues to dominate</a><a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-today-what-to-expect-where-to-watch-the-live-stream-and-everything-you-need-to-know/articleshow/109909583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-today-what-to-expect-where-to-watch-the-live-stream-and-everything-you-need-to-know/articleshow/109909583.cms" target="_blank">Apple Let Loose event today – What to expect, where to watch the live stream and everything you need to know</a><a href="https://www.businessinsider.in/stock-market/webstories/aadhar-housing-finance-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/109919298.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/aadhar-housing-finance-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/109919298.cms" target="_blank">Aadhar Housing Finance IPO – Price band to risk factors, all you need to know</a>

Household savings dip over Rs 9 lakh cr in 3 years to Rs 14.16 lakh cr in 2022-23

<ul class="summary-list"><li>OpenAI's $6.6 billion funding raise attracted some big names across the industry.</li><li>The investors had to fork over huge sums and reportedly avoid future investments in OpenAI's rivals.</li></ul>Sam Altman has taken his share of <a target="_blank" class="" href="https://www.businessinsider.com/sam-altman-openai-note-more-staff-exits-barret-bob-2024-9">bumps</a> <a target="_blank" class="" href="https://www.businessinsider.com/ilya-sutskever-leaving-openai-6-months-after-failed-altman-ouster-2024-5">and</a> <a target="_blank" class="" href="https://www.businessinsider.com/sam-altman-ousted-fired-openai-ceo-chatgpt-maker-2023-11">bruises</a> over the last year, but he proved yet again that he can convince investors to pour hundreds of millions into <a target="_blank" class="" href="https://www.businessinsider.com/openai-softbank-investment-ai-vision-2024-10">OpenAI.</a>The latest funding round appeared to be the hottest ticket in Silicon Valley, drawing a who's who of investors looking to get in on the buzzy AI startup's latest capital raise.The $6.6 billion round gave OpenAI a $157 billion post-money valuation and minted it into one of the most valuable startups in the world. The startup's valuation is now in the same neighborhood of publicly traded companies like Uber or AT&amp;T.In a statement posted to its website, OpenAI said the funding will "accelerate progress on our mission" and that it was "grateful to our investors for their trust in us."The investors' participation — which <a target="_blank" class="" href="https://www.ft.com/content/66e0653e-c446-47b2-8a7f-baa54ccbfb9a">reportedly carried the stipulation</a> that they shouldn't invest in rival AI companies — comes as OpenAI is discussing how to transform from a nonprofit organization into a more traditional <a target="_blank" class="" href="https://www.businessinsider.com/what-openai-needs-to-do-to-become-for-profit-altman-2024-9#">for-profit company</a> and <a target="_blank" class="" href="https://www.businessinsider.com/openai-leaders-who-left-since-2023-sam-altman-leadership-struggle-2024-9">several high-profile executives</a> have left to join rivals or start their own venture.Here's who broke out their checkbooks.<h2 id="c2afb3aa-677c-429d-a122-909331dfe44f">Thrive Capital</h2><div type="image" title="A photo of OpenAI CEO Sam Altman walking next to Anderson Cooper and Thrive Capital founder Josh Kushner at the Sun Valley conference." height="3881" width="5760" msid="113886506" hostid="261" sizebytes="589644"></div><a target="_blank" class="" href="https://www.businessinsider.com/joshua-kushners-thrive-capital-invests-in-studio-a24-2024-6">Thrive Capital</a> led the funding round, a spokesperson confirmed to Business Insider. The VC firm, founded by Josh Kushner, has made early investments in several now-prominent companies such as Slack and Instagram and previously invested in OpenAI.The venture firm invested about $1.25 billion, <a target="_blank" class="" href="https://www.wsj.com/tech/ai/openai-nearly-doubles-valuation-to-157-billion-in-funding-round-ee220607?mod=breakingnews">according</a> to a report from The Wall Street Journal. Thrive also has the option to invest another $1 billion in OpenAI next year at its current valuation if a revenue goal is reached, Reuters <a target="_blank" class="" href="https://www.reuters.com/technology/artificial-intelligence/openai-sees-116-billion-revenue-next-year-offers-thrive-chance-invest-again-2025-2024-09-28/">reported</a> last month.Besides being an investor in OpenAI, Kushner is close with Altman, The Information <a target="_blank" href="https://affiliate.insider.com?h=1cab063bf769ea9eb48814eb0a6d6dc829f20d25d9d18c766002829154b96aba&amp;postID=66fd750c0c43543ec7a4b399&amp;postSlug=openai-investors-latest-funding-round-2024-10&amp;site=bi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Fwhy-josh-kushner-became-openais-fundraising-sherpa">reported</a> last month. "i have been fortunate to work with many great investors; there is no one i'd recommend more highly than josh," Altman wrote in <a target="_blank" class="" href="https://x.com/sama/status/1821340757225078966">a post on X</a>, formerly known as Twitter, in August.<h2 id="736a35a4-d4e2-49f2-9f06-528a5fbc3cd5">SoftBank</h2>The highly anticipated funding round also attracted newcomers like SoftBank. A source close to the Japanese media-technology conglomerate told Business Insider that it had invested $500 million.The deal gives the Tokyo-headquartered firm, led by enigmatic founder Masayoshi Son, its <a target="_blank" class="" href="https://www.businessinsider.com/openai-softbank-investment-ai-vision-2024-10">first major stake in a company developing the large language models (LLMs)</a> that have powered buzzy apps like ChatGPT in the generative AI boom.While SoftBank led several investments into AI-linked Silicon Valley firms before the generative AI boom through its $100 billion Saudi-backed Vision Fund, it has been slow to invest in a post-ChatGPT world as it has sought to repair its reputation following its disastrous WeWork bet.However, Son has signaled in recent months that he would be ready to make an investment splash again to capture the opportunities in the generative AI frenzy.At the company's annual meeting in June, the SoftBank founder told shareholders that past investments were just a "warm-up" for AI and advancing the technology is "what I was born to do."<h2 id="b79edc35-3e70-45b0-9358-2c370180b278">ARK Venture Fund</h2><div type="image" title="Cathie Wood" height="683" width="1024" msid="113886505" hostid="261" sizebytes="29948"></div><a target="_blank" class="" href="https://www.businessinsider.com/cathie-wood-ark-venture-openai-funding-2024-10">Cathie Wood's ARK Venture Fund agreed to invest</a> at least $250 million into this funding round, which is its second investment to the company, Business Insider first reported. Ark has also invested in several other big-name startups like Anthropic, xAI, SpaceX, FigureAI, and Databricks.Wood compared the state of artificial intelligence with that of the internet in the early 1990s in an <a target="_blank" href="https://affiliate.insider.com?h=a7010832e1d44d01ab25c98a17ab9f24fb271b74f6a8c21c378eb8a0ef13469b&amp;postID=66fd750c0c43543ec7a4b399&amp;postSlug=openai-investors-latest-funding-round-2024-10&amp;site=bi&amp;u=https%3A%2F%2Fwww.morningstar.com%2Ffunds%2Farks-cathie-wood-tesla-ai-bitcoin">April interview</a> with Morningstar."We had just begun, and we had miles to go," Wood said. "In fact, we're still learning how powerful the internet is. That is where we are with artificial intelligence today."ARK did not immediately respond to a request for comment from BI.<h2 id="5d016f09-af75-4bcf-beba-b9511454f495">Microsoft</h2>Microsoft invested a little under $1 billion into OpenAI's latest funding round, according to The Wall Street Journal report. The tech giant has a partnership with OpenAI and has already invested a reported <a target="_blank" class="" href="https://www.businessinsider.com/microsoft-satya-nadella-openai-partnership-competition-collaboration-2024-5">$13 billion into the company</a>. Rival <a target="_blank" class="" href="https://www.businessinsider.com/apple-microsoft-rivalry-deepens-with-openai-funding-round-talks-2024-8">Apple</a> reportedly mulled its own investment in OpenAI, though <a target="_blank" class="" href="https://www.businessinsider.com/apple-falls-out-talks-invest-openai-wsj-report-2024-9">nothing came of the talks</a>.Microsoft has also added OpenAI's technology to Bing, its search engine, and its Copilot AI tools, as well as some of its other products.Microsoft did not immediately respond to a request for comment from BI.<h2 id="4c5792d3-7b4d-4ead-9769-659377bc0dc4">Nvidia</h2><div type="image" title="Nvidia CEO Jensen Huang." height="3335" width="5000" msid="113886507" hostid="261" sizebytes="342642"></div>Nvidia is no stranger to the AI spotlight, with its chips the best-in-class option for companies like OpenAI that are building frontier AI models.Nvidia invested about $100 million in OpenAI's funding round, according to the Journal's report.Nvidia declined to comment, referring BI to OpenAI.<h2 id="e1270d87-4463-4ac3-8d68-0f45347c3b60">Tiger Global</h2><a target="_blank" class="" href="https://www.businessinsider.com/tiger-global-openai-latest-funding-round-2024-10">Tiger Global Management also invested</a> in OpenAI's latest funding round, Business Insider reported. The amount of the contribution couldn't be learned.The company aggressively invested in tech in recent years, making 335 investments in 2021, according to Crunchbase. The firm has since <a target="_blank" class="" href="https://www.businessinsider.com/crossover-funds-tiger-global-d1-deals-2024-2023-12">pulled back on its number of investments</a> per year as the market soured, but it purchased $125 million in OpenAI shares in 2021.<h2 id="e98b1792-d5c0-48d7-b6d8-2766c05647d5">Fidelity</h2>Fidelity also participated in OpenAI's latest funding round. The asset manager recently participated in a funding round for Elon Musk's xAI.Fidelity often invests in late-stage startups that could go public in IPOs a few years later. The strategy can help big mutual fund firms get in ahead of potentially hot IPOs at a lower price.<h2 id="6d05f1b3-01e2-4e70-b574-f8fe21b1f9c6">Altimeter Capital Management</h2>Altimeter Capital Management also contributed to OpenAI's latest funding round, according to reports. Altimeter did not immediately respond to a request for comment from BI.Brad Gerstner, CEO and founder of the investment firm, said at an AI conference on Wednesday after the founding round announcement that OpenAI's next move should be an IPO."Having the opportunity for every retail investor in America to share in the upside that gets created by AI at a time we're going to have massive social disruption, jobs lost, and other things, I think it's critically important," Gerstner said, <a target="_blank" class="" href="https://www.geekwire.com/2024/openai-investor-says-the-next-step-for-the-chatgpt-maker-should-be-to-go-public/">according</a> to GeekWire.<h2 id="59757869-f9b3-4325-827e-57256dbfbbd3">Khosla Ventures</h2><div type="image" title="Portrait of Vinod Khosla with purple/blue lighting" height="5354" width="8028" msid="113886504" hostid="261" sizebytes="613812"></div>Khosla Ventures also participated in the funding round.Vinod Khosla, who cofounded Sun Microsystems, recently wrote in a lengthy <a target="_blank" rel=" nofollow" href="https://www.khoslaventures.com/ai-dystopia-or-utopia/?campaign_id=4&amp;emc=edit_dk_20240923&amp;instance_id=135030&amp;nl=dealbook&amp;regi_id=71823306&amp;segment_id=178573&amp;te=1&amp;user_id=f058385abc0a81f5ba25805ecd26bcd9#02-c">post</a> on his VC firm website that AI would reduce costs and take over most of the work humans do — and do it better, for the most part. He also predicted there would be one billion robots in the next 25 years.Khosla previously invested in OpenAI.<h2 id="9217eb9c-0bd6-4a0e-a57f-18b634e4595e">MGX</h2>MGX, an investment firm backed by the United Arab Emirates, participated in OpenAI's latest round, Reuters <a target="_blank" class="" href="https://www.reuters.com/technology/artificial-intelligence/openai-closes-66-billion-funding-haul-valuation-157-billion-with-investment-2024-10-02/">reported</a>. The firm did not immediately respond to a request for comment outside business hours.The firm was set up earlier this year to invest in artificial intelligence and semiconductors, Bloomberg <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-03-11/abu-dhabi-said-to-target-100-billion-aum-for-ai-investment-firm">reported</a> in March. At the time, MGX was reportedly aiming to have $100 billion under management in the coming years.

The investors behind OpenAI's historic $6.6 billion funding round

<ul><li>According to AMFI data, <keyword id="19978171" type="General" weightage="20" keywordseo="as-of-early-december" source="Orion">as of early-December</keyword>, the average one-year returns for 23 small-cap funds stood at 32.68%. </li><li>58% of the large cap funds failed to beat their underlying indices in the first half of 2023. </li><li>Contributions to <keyword id="159805" type="General" weightage="20" keywordseo="sips" source="Orion">SIPs</keyword> surpassed a record ₹17,000 crores in November. </li></ul>After a brutal 2022, <keyword id="6357979" type="General" weightage="20" keywordseo="mutual-funds" source="Orion">mutual funds</keyword> have had a solid year in 2023 with retail investors having come of age. Moreover, according to Association of Mutual Funds in India (AMFI) data, mutual funds industry assets under management (AUM) have crossed the ₹50 lakh-crore mark! Investments into equity mutual funds saw an inflow of ₹124,053 crore in the first nine months of 2023 indicating a strong interest and belief in the potential of the equity market among domestic investors. This was not of course without its share of blips. In April 2023, inflows into equity mutual funds stood at ₹6,480 crore, down 68% from March when it was ₹20,534 crore. Last time inflows were lower was in November 2022, when it stood at ₹2,258 crore. Inflows into equity mutual funds again halved in May, probably because high market valuations made investors book profits and stay away from fresh investments. However, ever since then the flows into equity mutual funds have remained steady, reaching a high of ₹19,932 crore crore in October. Small and mid caps steal the show According to AMFI data, as of December 6, 2023, the average one-year returns for 23 small-cap funds stood at 32.68%. In contrast, 28 mid-cap funds delivered average one-year returns of 28.02%, in the same period. By November end, AUM of mid-cap funds had crossed the ₹ lakh crore mark, a 69% rise as compared to last year. In fact, small cap funds registered inflows of ₹3,699.24 crore in November ,slightly lower than the ₹4,495.13 crore recorded in October. Small cap funds had registered a record inflow of ₹5,472 crore in June, with inflow into small cap mutual funds being the highest among all equity fund categories for the third straight month. In August, small cap funds saw an inflow of ₹4,265 crore, with a slight blip in September when inflows fell to ₹2,678.47. This has been driven by the ongoing economic recovery, which has fueled corporate earnings growth, particularly among smaller companies with high-growth potential. Investors are optimistic about the future prospects of these companies, leading them to seek exposure through small-cap funds. AMFI chairman said it was the outcome of a recency bias. The surge in investor interest in mid-cap funds has also been fueled by several factors, including India's robust economic recovery, the inherent growth potential of mid-cap companies, their reasonable valuations compared to large-cap stocks, and supportive government policies. Large-cap funds funds underperform Large cap funds, however, had a rather dull 2023. Large-cap mutual funds experienced significant outflows in June, July, and May, totaling ₹2,050 crore, ₹1,880 crore, and ₹1,362 crore, respectively, making these some of the worst months for large cap funds. However, following six consecutive months of outflows, large-cap funds experienced an inflow of ₹724 crore in October, signaling a resurgence in investor confidence in established companies. November saw an inflow of ₹306 crore. In fact, 58% of the large cap funds failed to beat their underlying indices in the first half of 2023. This can be due to the confluence of factors, including rising interest rates favoring bonds, regulatory changes limiting fund manager flexibility, investor rotation seeking higher growth in smaller-cap stocks, and underperformance in key sectors like technology and consumer discretionary. SIP contributions witness a steady rise One of the biggest trends is the steady increase in monthly SIP contributions. SIP inflows reached ₹1.66 lakh crore in the first 11 months of 2022, higher than ₹1.5 lakh crore in entire 2022. Contributions surpassed a record ₹17,000 crores in November. In November 2022, the SIP contribution stood at ₹13,306 crore. The number of SIP accounts were at the highest ever in November at 744.13 lakh crore, compared to 730.02 lakh crore in October. The total SIP AUM (assets under management) has also shown impressive growth, exceeding ₹6.42 lakh crores in October. Despite facing market fluctuations, SIPs have demonstrated remarkable resilience. The consistent inflows and stable AUM indicate that investors are adopting a disciplined approach and remain confident in the long-term prospects of the market.

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