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India’s Small Investors Put $3 Billion in Stock Funds Last Month
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Indian retail investors kept faith in the local stock market despite the recent selloff, pouring record amounts into monthly investment plans.
Inflows into recurring schemes offered by mutual funds hit 264.6 billion rupees ($3.1 billion) in December, nearly double the amount from two years ago. The benchmark NSE Nifty 50 Index has fallen more than 10% from a peak in September.
Indian investors have plowed money into the nation’s equity funds for a 46th straight month in December.
This growth is a “testament to the strong conviction of investors,” said Suranjana Borthakur, head of distribution and strategic alliances at Mirae Asset Investment Managers India.