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% |