MUMBAI: The mutual fund industry showed strong growth in December as inflows from systematic investment plans (SIPs) reached an all-time last month, while inflows into equity mutual funds surged to Rs 7,303 crore in December compared to Rs 2,258 crore in November 2022.
Monthly SIP contribution reached Rs 13,573 crore in December 2022 compared to Rs 11,305 crore in December 2021, according to the data released by the Association of Mutual Fund Industry (Amfi) on Tuesday.
The assets under management (AuM) of mutual fund industry rose 5.7% or Rs 2.2 lakh crore to Rs 39.88 lakh crore in 2022. Mutual fund folios reached an all-time high of 14.11 crore in December 2022 from 12.02 crore in December 2021.
“The importance of investing in equity markets for the longer term goals is not lost on investors and the same is reflected in the ever-increasing awareness and adoption of SIP as a goal-linked route to create wealth over the long term,” said N S Venkatesh, chief executive, Amfi.
“This month nearly 24 lakh new SIPs were registered, which shows increasing investor belief in the instrument. SIPs are the simplest route to build a disciplined habit of regular investing.”
