Equity mutual fund inflows fell 22% month-on-month to Rs 33430 crore in August largely due to a sharp decline in new fund offers (NFOs) data from the Association of Mutual Funds in India (AMFI) showed on Wednesday. Despite the slowdown August marked the 54th straight month of net inflows into equity schemes. In comparison inflows stood at Rs 42702 crore in July. Equity MF Inflows Drop 22% In August  Market experts attributed the dip primarily to lower NFO activity during the month. The lower impact of new flow viz previous month roughly Rs 9000 crore is to the extent of NFOs which were higher in July than August. Rest the flow momentum is steady and healthy Akhil Chaturvedi Executive Director and Chief Business Officer at Motilal Oswal Asset Management Company said. Given past trends I was hoping for a higher SIP number which is now flat around Rs 27000 crore. Broadly Indian investors continue to add equities to their allocation despite global headwinds and FPIs selling and this is very positive for the markets he added. Mid Cap Small Cap Funds Mutual Fund Inflow Within equity fund categories the highest contribution came from Flexi Cap Funds at Rs 7679 crore followed by Mid Cap Funds with Rs 5330 crore. Small Cap Funds attracted Rs 4993 crore Sectoral/Thematic Funds added Rs 3893 crore and Large Cap Funds saw an inflow of Rs 2835 crore. Overall the mutual fund industry experienced an infusion of Rs 52443 crore in August lower than Rs 1.8 lakh crore in July. The industry assets under management was at Rs 75.2 lakh crore at the end of August compared to Rs 75.36 lakh crore in July-end.  (With Inputs From PTI)