Mutual Funds: SIP Inflows Breach Rs 19,000-Crore Mark for the First Time in February ’24

The systematic investment plan (SIP) contribution in February 2024 has crossed a new milestone. The monthly contribution tipped at Rs 19,186.58 crore in February, compared to Rs 18,838.33 crore in January. 2024.

The SIP assets under management (AUM) witnessed a spike of 2.49% in February and stood at Rs 10.52-lakh crore as against Rs 10.26-lakh crore in December 2023. The number of SIP accounts touched a new highest level of 820.17 lakh in February 2024, compared to 791.71 lakh in January 2024. 

The number of new SIPs registered in January has touched a new high. The number of new SIPs dipped in February 2024. About 49.79 lakh new SIPs were registered in February as against 51.84 lakh in January 2024.

In February 2024, the average assets under management (AAUM) for mutual funds clocked Rs 54.52-lakh crore as against Rs 52.89-lakh crore in January 2024. Mutual Fund folios have touched an all-time high spot of 17,41,95,535 in February 2024. Comparatively, this number stood at 16,95,59,182 in January 2024.

The retail MF Folios, including equity, hybrid, and solution-oriented schemes, also scaled an all-time high of 13,94,91,744 in February 2024. The retail AUM that includes equity, hybrid, and solution-oriented schemes tipped at Rs 30.70-lakh crore for February 2024 with an average AUM of 30.72-lakh crore.

Similarly, the inflow into equity mutual funds also witnessed a 23% surge to Rs 26,865.78 crore in February 2024. This is the 36th straight month that the inflow into equity mutual funds has remained positive since March 2021.

The Association of Mutual Funds of India (AMFI) also highlighted that both small-cap and mid-cap funds displayed significant inflows in February 2024, even after the markets regulator, the Securities and Exchange Board of India (SEBI), raised concerns over froth in the segments.

As per the AMFI, inflows into mid-cap funds experienced a downward trend by 12% but remained healthy at Rs 1,808 crore, while net investments into small-cap funds experienced a low of 10% but came in at Rs 2,922 crore in February 2024.

The sectoral or thematic funds category experienced the highest inflows of Rs 11,262.70 crore among the equity asset class. The five new schemes introduced during the month cumulatively notched Rs 7,178 crore in the new fund offer (NFO) period.

Similarly,  as net inflows stood at Rs 921 crore in February 2024  for the large-cap category, this was its third-highest inflows in the past  20 months.

Under the fixed-income segment, debt funds experienced net inflows of Rs 63,809 crore in February  2024. Comparatively, this net investment number in January 2024 stood at Rs 76,469 crore. 

Meanwhile, the inflow into debt was positive while riding on Rs 83,642 crore investments into the short-term liquid fund category. Close on the heels of this was Rs 3,029 crore inflows into the corporate bond category.

Additionally, the low-duration funds showcased outflows of Rs 4,100 crore. This was followed by Rs 3,610 crore outflows from floater funds in February 2024.

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