MUMBAI: Continuing inflows into the most popular mutual fund segment, the systematic investment plans or SIPs set new records in April topping the Rs 20,000 crore mark for the first time, and coupled with this and fresh inflows into debt and equity funds took the total assets under management to Rs 57.26 lakh crore in the month, up from Rs 55.01 lakh crore in the previous month.
Being the fiscal year closing month, March saw a significant outflow of Rs 1.59 lakh crore, but the industry reversed the trend and saw a strong rebound with net inflows reaching Rs 2.39 lakh crore, driven by inflows across all categories, show the latest data shared by the industry lobby the Association of Mutual Funds of India or Amfi in Monday.
According to Ashwini Kumar, a senior vice-president at Icra Ratings, after clipping at 35% in FY24 ove FY23, the industry AUM continued to post a stellar performance in April with the net AUM growing by 38% year-on-year to touch Rs 57.26 lakh crore over Rs 41.62 lakh crore in April 2023.
Sequentially, he said net AUM grew 7% from Rs 53.40 lakh crore in March 2024, net inflows rose 97% YoY in April by Rs 2.39 lakh crore from Rs 1.21 lakh crore in April 2023. For the first time ever, monthly investments into SIPs topped the Rs 20,000 crore landmark reaching Rs 20,371 crore in April, Venkat Chalasani, Amfi CEO told reporters.
The SIP book was at Rs 19,271 crore in March and Rs 19,187 crore in February. However, inflows into open-ended equity mutual funds had slumped 16% to Rs 22,633 crore. Similarly, inflows into equity mutual fund fell 16.42% to Rs 18,917.08 crore in April on a fresh slump in investments into large-cap funds. On the other hand, small-cap funds saw inflows worth Rs 2,208.70 crore in the reporting month after witnessing outflows in March.
“The mutual fund industry surged to new levels with net AUM reaching Rs 57.26 lakh crore and SIP accounts touching 8.70 crore. A historic SIP contribution of Rs 20,371.47 crore taking SIP AUM to Rs 11.26 lakh crore with 63.65 lakh new SIP registrations showcases investor confidence,” said Chalasani.