Equity mutual fund inflows in May shrank by more than half from a year ago, data released on Monday showed, due to uncertainty over the outcome of the 17th Lok Sabha election. According to the Association of Mutual Funds in India (Amfi), net inflows into equity mutual funds in May was ₹4,968.43 crore, down 56.22% from ₹11,350 crore a year ago. Overnight funds on the other hand saw a jump in net inflows to ₹2,347.41 crore from ₹95.74 crore in the previous month. Banking and PSU debt funds saw a leap in flows to ₹3,381.82 crore in May from ₹2,792.15 crore in April. However, he sounded a note of caution on banking and PSU debt funds.

Source: Mint June 10, 2019 17:03 UTC