ETMONEY has surged ahead amidst the global pandemic by cornering a whopping 28% market share of the Indian Mutual Fund Industry’s net equity sales recorded in June 2020, thus reaffirming its position as India’s go-to financial app for investors.
As per the latest data released by the Association of Mutual Fund in India (AMFI), net inflows in equity mutual funds in the month of June 2020 fell by almost 95% to Rs. 240.55 crores from May’s net inflow of Rs.5,256.52 crores. Amidst the chaos, ETMONEY continued to move forward by contributing the major chunk of net sales of the industry and also ensured that money was invested in categories more suitable for long term wealth creation.
Out of the industry’s equity mutual fund net sales, ETMONEY accounted for Rs. 68.7 crore i.e. 28% of net sales. At a time when large-cap and multi-cap funds posted a combined negative net sale of close to Rs. 1,000 crores, ETMONEY saw net sales in excess of Rs. 25 crores in these two categories. ETMONEY also accounted for nearly 14% of total net sales in the Mid Cap category in the month of June. As compared to the total net sales of Rs 36.70 crore for the category, ETMONEY registered a net sale of Rs 4.9 crore. Besides equity funds, the platform also saw net positive sales in hybrid funds while the industry had over Rs. 3,000 negative net sales if one excludes arbitrage funds.
Speaking on the platform’s success in helping Indian investors make smarter financial choices, ETMONEY Founder-CEO Mukesh Kalra said, “We have undertaken various initiatives to help Indian investors make the right investment decisions during the ongoing COVID-19 outbreak. From offering advice by CEOs of top AMCs through blogs and videos to interventions at key decision-making points, ETMONEY’s strategy to stay with the investor at every step of the journey has worked exceptionally well. ETMONEY’s earnest efforts in handholding investors has resulted in a significant amount of sales on the platform. In fact, many of the categories where ETMONEY investors did well are the ones that are primarily suited for long-term wealth creation, compared to some industry inflows coming on the back of maybe not-so-sustainable last 1 year returns.