Insta
SIP Inflows At Record High Of Rs 8,518 Crore In December 2019 As Retail Investors Continue To Repose Trust In MFs
A bus stop with an advertisement promoting mutual funds (INDRANIL MUKHERJEE/AFP/Getty Images)
Systematic Investment Plan (SIP) inflows during December last year jumped by Rs 245 crore (month-on-month) to a record high of Rs 8,518.47 crore, Association of Mutual Funds in India (AMFI) data released on Wednesday (8 January) showed.
The SIP inflow in November, 2019 stood at Rs 8,272 crore. Also, the total number of SIP accounts increased to 2.97 crore while the assets under management (AUM) under SIPs surged to Rs 3.17 lakh crore, up from Rs 3.12 lakh crore in November.
AMFI CEO N S Venkatesh said: "Retail Investors continue to repose trust in Mutual Funds as reflected by continued flows through SIPs, despite challenging domestic economic scenario and global trade issues and conflicts.
"Average AUM at Rs 27.26L crore at an all-time high, net equity inflows trebling in the last month to Rs 4,499 cr, continued robust SIP book Rs at 8,518.47 cr and SIP AUMs at an all-time high at Rs 3.17 lakh crore is reflective of positive sentiment in equities."
Vishal Kapoor, CEO, IDFC AMC for the December AMFI data, said: "MF Industry data for December indicates a sharp pick-up in retail investor interest in equity funds, with net equity inflows jumping 4X over November and monthly SIP flows rising from Rs 8,273 crore in November to a record Rs 8,518 crore in December".
In addition to attractive broader market valuations, there seems to be a growing expectation of strong policy action and market-friendly announcements in the upcoming budget, Kapoor added.
(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
