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  • MF News IFAs and NDs create 6 out of 10 new SIPs

    IFAs and NDs create 6 out of 10 new SIPs

    Of the 15.76 lakh new SIPs, IFAs and NDs have created nine lakh new SIPs in the first three months of FY 2018-19, shows CAMS data.
    Team Cafemutual Aug 13, 2018

    You can say that the SIP growth story is largely due to IFAs and NDs. The latest CAMS report, which covers 65% of industry data shows that IFAs and NDs have created 56% of the new SIP accounts. Of the 15.76 lakh new SIPs, IFAs and NDs have created 9 lakh new SIPs in April-June 2018. That roughly means IFAs and NDs create six out of ten new SIPs in the industry.

    While IFAs have created close to 5 lakh new SIPs in the first three months of FY 2018-19, NDs including those such as NJ, Prudent and Fundsindia that operate under sub-broking model are next in line after IFA with 4 lakh new SIP accounts. 

    IFAs have highest number of new SIP accounts in both locations – T30 (3 lakh SIP accounts) and B30 (2 lakh SIP accounts). In percentage terms, IFAs brought in 30% of the new SIP accounts in T30 cities. Additionally, they activated 33% of the new accounts in B30 cities. 

    Direct investors have opened 1.30 lakh and 69,754 new SIPs accounts in T30 and B30 cities respectively.

    In the banking space, private banks activated higher new SIP accounts than PSU banks. The data shows that private banks have activated 1.60 lakh new SIP accounts compared to 1.12 lakh accounts of PSU banks in April-June 2018.  

    Thanks to AMFI’s initiatives explaining the benefits of systematic investing, we continue to see healthy SIP inflows despite volatile market.

    Further, AMFI data shows that the industry has collected Rs.21,548 crore through SIP in April-June 2018 as against Rs.13,597 crore in the corresponding period last year, a healthy growth of 58% in SIP inflows. In fact, the industry has collected an all-time high inflows of Rs.7, 754 crore through SIP in June 2018.

    Overall, the industry has added close to 30 lakh new SIPs in the first three months of FY 2018-19 i.e. between April and June 2018, shows AMFI data.

     

     

    Month

    Direct

    IFA

    National Distributor

    PSU Banks

    Other Banks

    Regional Distributor

    Others

    Grand Total

    T 30

    Apr-18

    38,376

    86,287

    79,176

    15,142

    23,992

    7,987

    45,321

    2,96,281

    May-18

    43,950

    87,367

    85,159

    17,533

    31,274

    8,189

    49,831

    3,23,303

    Jun-18

    48,513

    1,27,500

    1,08,219

    16,994

    46,616

    11,306

    20,336

    3,79,484

    Quarterly increase

    26%

    48%

    37%

    12%

    94%

    42%

    -55%

    28%

     

     

     

     

    Month

    Direct

    IFA

    National Distributor

    PSU Banks

    Other Banks

    Regional Distributor

    Others

    Grand Total

    B 30

    Apr-18

    20,578

    52,279

    33,158

    18,107

    11,228

    2,824

    25,988

    1,64,162

    May-18

    23,849

    56,277

    36,863

    22,583

    16,499

    3,050

    32,329

    1,91,450

    Jun-18

    25,327

    82,236

    47,496

    22,242

    29,866

    4,267

    9,704

    2,21,138

    Quarterly increase

    23%

    57%

    43%

    23%

    166%

    51%

    -63%

    35%

     

     

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