Mumbai, Apr 8 (IANS): India's equity-linked mutual fund schemes saw sequential growth in net inflows in March, showed the data furnished by the Association of Mutual Funds in India (AMFI) on Friday.

The net inflows into equity and equity-linked schemes rose to Rs 28,463.49 crore from Rs 19,705.27 crore in February and Rs 14,887.7 crore in January.

In December 2021, the net inflows had stood at over Rs 25,000 crore.

"The deteriorating geo-political situation caused by the Russia-Ukraine war, elevated hawkish US Fed stance, or even the rising inflation owing to spurt in fuel prices have not deterred investor confidence in the India growth story," said N.S. Venkatesh, Chief Executive, AMFI.

"Flows into retail schemes in CY 2022 continue to show month-on-month increase, led by rising SIP contribution, which for March 2022 were at an all-time high at Rs 12,328 crore, and with the economy opening up due to tapering Covid prevalence in the country," Venkatesh added.

Besides, he said that in the last 12 months ending March 31, the mutual fund industry added 1.09 crore unique investors, which is also reflective of investor confidence in the mutual asset class.