The average assets under management (AAUM) of the MF industry crossed Rs 28 lakh crore in the first month of 2020, thanks to improved sentiment amid hopes of a broad-based market recovery.
The latest AMFI data shows that AAUM of the MF industry has touched Rs 28.19 lakh crore in January. Meanwhile, AUM as on January 31, 2020 stood at Rs 27.86 lakh crore.
AAUM is the average assets of the entire month, 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.
Data available on SIP also shows an encouraging trend.
The monthly inflows through SIP reached an all-time high of Rs 8,532 crore in January. Moreover, AMFI data shows that on an average, the MF industry has added close to 9.80 lakh SIP accounts each month during the FY 2019-20, with an average SIP ticket size of about Rs 2,800 per SIP account.
Moreover, the number of new SIPs registered in January surged to 12.07 lakh, a record high for the MF industry. Meanwhile number of SIPs ceased, which includes discontinued and completed SIP accounts, touched 5.95 lakh. Net SIPs (new SIP registered minus ceased SIPs) in the MF industry has risen to a 20-month high of 6.12 lakh in January.
Overall, the MF industry has 3.04 crore active SIP accounts.
