MUMBAI: Discounting volatility in the stock market, investors poured in money through the mutual fund route that led to a record Rs 32,297 crore in gross monthly inflows through the systematic investment plan (SIP) route in Aug. This, combined with strong buying across most equity mutual fund categories, lifted the total assets managed by the fund industry to just a tad above the Rs 87 lakh crore mark, also a new all-time high level, data from industry trade body AMFI showed.According to Navneet Munot, MD & CEO of HDFC AMC, in Aug, the fund industry extended a trend that has been observed for some time now as SIP inflows climbed to a record high even as the market remained volatile on global cues.AMFI data showed that as of Aug 31, SIP assets stood at Rs 18.6 lakh crore, up 2.8% on the month, while the number of contributing SIP accounts was at a little over 10 crore.During the month, net inflows into equity schemes were Rs 29,329 crore. This was the 66th consecutive month of net inflows through this fund category. Among equity fund categories, while small-cap funds took in a net Rs 7,973 crore, mid-cap schemes recorded net inflows worth Rs 6,989 crore, and flexicap funds Rs 5,059 crore.AMFI data also showed that in Aug, retail folios (equity + hybrid + solutions-oriented schemes) were at 21.6 crore, up from 21.4 crore the previous month.According to Saugata Chatterjee, president & deputy CEO, Nippon India Mutual Fund, the continued growth in industry folios was the most encouraging takeaway from Aug data that reflected the widening reach of mutual funds. “Record-high SIP contributions, along with a moderating stoppage ratio, further demonstrate the growing discipline of Indian investors. The continued preference for small-cap and mid-cap funds indicates investors’ desire to participate in the broader opportunity across corporate India. Given the nature of these segments, disciplined allocation, patience and a longer investment horizon remain important.”