Record inflows into SIPs take Mutual funds assets under management to nearly Rs 37 lakh cr in September; check Amfi data
Driven by record inflows into Systematic Investment Plans (SIPs), the overall mutual funds industry's assets under management jumped to nearly Rs 37 lakh crore in September, registering an over 33 per cent growth compared to the year-ago period, according to Amfi data
Driven by record inflows into Systematic Investment Plans (SIPs), the overall mutual funds industry's assets under management jumped to nearly Rs 37 lakh crore in September, registering an over 33 per cent growth compared to the year-ago period, according to Amfi data.
The overall Assets Under Management (AUM) touched Rs 36.74 lakh crore last month, up from Rs 27.6 lakh crore in September 2020, the data from the Association of Mutual Funds (Amfi) showed on Friday.
See Zee Business Live TV Streaming Below:
Amfi CEO N S Venkatesh attributed the record AUM to the record inflows into the SIPs which crossed the Rs 10,000-crore milestone for the first time.
This is also reflective of the continued retail investor confidence in mutual funds. Retail investors are preferring mutual funds over low-yielding traditional savings avenue like bank fixed deposits as well as gold and real estate, he added.
The number of SIP accounts grew from 4,32,44,048 in August to 4,48,97,602 in September while the SIP assets rose from Rs 9,923.15 crore in August to Rs 10,351.33 crore last month. The overall SIP assets climbed to Rs 5,44,976 crore in September from Rs 5,26,883 crore in August.
The industry added a whopping 89.15 lakh folios in the first six months of FY22, as against more than 81 lakh folios added in the whole of FY21.
Retail folios -- equity, hybrid and solution-oriented schemes -- at Rs 9,15,36 crore is also at an all-time high, helping the monthly SIP contribution to touch Rs 10,351.33 crore.
Retail AUMs (equity, hybrid, solution oriented schemes) at an all-time high at Rs 17,72,049 crore, now forms 48.23 per cent of the total industry AUMs at Rs 36.73 lakh crore.
On the massive outflows from the system, Venkatesh said this was led by the debt category and that was partly due to a section of institutional investors exiting mutual funds at the end of every quarter.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
11:50 AM IST