Systematic Investment Plan (SIP) inflow was at an all-time high of Rs 26,688 crore in May. This figure was Rs 26,632 crore in April. This information was given in the data released by the Association of Mutual Funds in India (AMFI) on Tuesday, June 10.
The ever-increasing inflow of SIP shows that people are investing in mutual funds from a long-term perspective. According to Amfi data, the number of accounts contributing SIP has increased to 8.56 crore in May, which was 8.38 crore in the previous month.
SIP AUM is about 20.24% of the total AUM of the Mutual Funds industry
On SIP inflow being at an all-time high, he said that the participation of retail investors is increasing. Mutual funds are becoming an important means of investment. The total assets under management (AUM) under SIP has increased from Rs 13.90 lakh crore in April to Rs 14.61 lakh crore. SIP AUM was about 20.24 percent of the total AUM of the mutual fund industry, while it was 19.9 percent in April.
Total number of SIP accounts in May was 9.06 crore
According to AMFI data, after many months, the SIP stoppage ratio has weakened in May. About 59 lakh SIP accounts were opened in May, while SIP was closed or matured in 43 lakh accounts. The total number of SIP accounts in May was 9.06 crore.