Mutual fund: SIP flows see record monthly growth as folios cross 5 crore
India Today
The total number of SIPs witnessed a growth for the month of January. The number of SIPs stood at 5.05 crore in January, an increase from 4.91 crore registered in December last year.
The mutual fund industry has witnessed a record increase in monthly contributions to the Systematic Investment Plans (SIP) for the month of January, 2022.
Monthly contributions to SIP have increased to Rs 11,516 crore in January this year from Rs 11,305 crore in December, 2021, Business Today reported, quoting data released by the Association of Mutual Funds in India (AMFI).
The total number of SIPs witnessed a growth for the month of January. The number of SIPs stood at 5.05 crore in January, an increase from 4.91 crore registered in December last year.
Apart from this, the total assets under management (AUM) in SIP also rose to Rs 5.76 lakh crore in January against Rs 5.65 lakh crore in December.
N S Venkatesh, Chief Executive, AMFI said Capex spending allocation in the Union Budget 2022 leading to overall economic growth, rising job creation avenues, healthier corporate earnings growth will spur further higher quantum of savings into the Mutual Fund Industry.
The Mutual Fund asset class has been established as the preferred investment avenue for long term goal-based savings, N S Venkatesh said, adding that retail investors adopt a rotational investment strategy in the event of a rate hike and shift their savings to the Hybrid category.
"Retail Mutual Fund investor confidence in the India Growth story, as reflected through continued all-time higher quantum of monthly SIP flows and with the economy expected to rise at a projected 9.2 per cent, has overshadowed the uncertainties arising out of external factors like Fed Rate hike or FII outflows," he said.
