HDFC Mutual Fund’s SIP inflows hit ₹2.4 trn in FY23, up 12% from ₹2.2 trn a year earlier, surpassing the 8% consensus estimate cited by Bloomberg.
The figure eclipses the sector average growth of 6% YoY, according to SEBI’s Q3 FY23 report, indicating robust investor confidence across asset classes.
Foreign Institutional Investors contributed 45% of the inflows, while retail participation rose to 55%, a shift highlighted by a recent research note from IIFL Securities.
Analysts weigh in: Rajesh Kumar of Zerodha expects the fund’s net asset value to climb 9% in Q1 FY24, citing the firm’s expanded ETF lineup.
Looking ahead, HDFC Mutual Fund announced a new diversified ETF series slated for launch in March 2025, aimed at capturing an extra 10% return over its core equity index.
The announcement nudged HDFC Ltd shares up 2.5% on the NSE, reflecting investor optimism about the MF arm’s growth trajectory.