The latest AMFI data shows that the mutual fund industry has been receiving an average monthly inflow of Rs.5,223 crore through SIPs. This is the average monthly inflow of three months for the period July to September 2017. In the preceding quarter, i.e., between April and June 2017, the average monthly SIP inflow was Rs.4,564 crore.
In September alone, the monthly inflows in mutual funds through SIP reached an all-time high of Rs.5,516 crore.
Data shows that the industry mopped up close to Rs.15,700 in the last three months through SIPs.
In fact, when compared to the July-September quarter of 2016 i.e. Rs.10,529 crore, the SIP inflows has increased by Rs.5,140 crore or 49% in July-September quarter of 2017.
Another good news for the mutual fund industry is the increase in the SIP accounts. Mutual fund SIPs accounts stood at 1.66 crore in September. The industry has added 21 lakh SIP folios during these three months. This indicates that the industry added 7 lakh SIP accounts on an average each month during the second quarter of FY 2017-18. The number of total SIP accounts stood at 1.45 crore in June.
AMFI data shows that the MF industry had added about 8.80 lakh SIP accounts each month on an average during the FY 2017-18, with an average SIP size of about Rs.3,300 per SIP account.
Sundeep Sikka, CEO, Reliance Mutual Fund says that the retail investors have taken to SIP because of its convenience. “We believe that there is lot of opportunity as the current penetration of mutual funds is very low. SIP is a powerful tool to make B15 investors interested in mutual funds,” said Sikka.