SIP inflows continued to pour in the month of November with investors putting in Rs.5,893 crore, shows AMFI data. The industry has witnessed a growth of 5% in SIP inflows in November compared to Rs.5,621 crore in October, an increase of Rs.271 crore.
Experts say that the increase in SIP inflows is a result of new investors entering the mutual fund industry through SIP and increase in the SIP amount from existing investors.
The popularity of the SIP route as a way to invest can be seen in the increase in SIP accounts. Mutual fund SIPs accounts stood at 1.80 crore in November. The industry has added 7 lakh SIP folios in just one month. The mutual Fund SIPs accounts stood at 1.73 crore as on October.
AMFI data shows that the MF industry had added about 9.05 lakh SIP accounts each month on an average during the FY 2017-18.
The consistent inflows to the industry has pushed the average assets under management (AAUM) of the mutual fund industry to Rs.22.73 lakh crore in November 2017. The average AUM of the MF industry has increased by 6% from Rs.21.45 lakh crore in September. However, the monthly AUM of industry stood at Rs.22.79 lakh crore in November 2017.
While AAUM is the average assets of the entire month and is calculated by factoring in all working days of the month, month end AUM is the assets of the industry as of the last working day of the month.
