The mutual fund industry is on a record run, especially with respect to SIPs. Almost every month, SIP registrations and inflows are touching new peaks. In December 2021, investors poured in a record Rs. 11,305 crore through SIPs, taking the SIP AUM to a new all-time high.
However, the real scenario is a bit different. A deeper look at AMFI data shows that the net SIP inflows in December was half of the gross inflows. While the gross SIP inflows was Rs. 11,305 crore, the net inflows was Rs. 5,394 crore.
While AMFI does not define net SIPs, according to SEBI, net SIP is difference between gross SIP inflows and outflows due to SIP discontinuations.
If we look at only the equity schemes, the net SIP inflows was Rs. 4,329 crore as against Rs. 9,474 crore gross inflows.
| Gross SIP | Net SIP | Difference | |
| Dec-21 | 11,305 | 5,394 | 5,911 |
| Nov-21 | 11,005 | 5,087 | 5,918 |
*All numbers are in Rs crore
November data also presents a similar picture. The net SIP inflows across all schemes (Rs. 5,087 crore) was almost half of the gross number (Rs. 11,005 crore).
AMFI started sharing the net SIP inflows from this financial year (March onwards) after SEBI chief Ajay Tyagi disclosed the net figures for the first time in a SEBI-NISM conference. Cafemutual was first to report the difference in SIP inflow data shared by AMFI and SEBI.
