MFs trump global woes, SIPs hit new high in July

Indian investors showcased unwavering confidence in July, doubling down on mutual fund investments, primarily through equity schemes. Gross SIP flows soared past ₹28,000 crore, while monthly equity flows exceeded ₹42,000 crore. The industry's total assets under management reached a record ₹75.4 lakh crore, despite a strong dollar and foreign fund outflows.