SIPs hit a new high in November, exceeding ₹17,000 crore

The net inflow to equity mutual funds fell to ₹15,536 crore in the month of November from ₹19,957 crore in October, revealed the AMFI (Association of Mutual Funds in India) data for the month of November. 

The number of systematic investment plans (SIPs) exceeded ₹17,000 crore for the first time. The SIP book for the month reached ₹17,073 crore, surpassing the October figure of ₹16,928 crore, shows AMFI data. 

“Both the midcap and the small cap indexes have seen a sharp rally over the last 6 months and 1 year. Investors should have a long-term time horizon while investing in midcap and the small cap categories. Opting to invest in these categories via the SIP route is a good way by which investors can ride the volatility whilst dollar cost averaging over long periods,” says Melvyn Santarita, Analyst,  Morningstar Investment Research India Private Limited.

Meanwhile, debt mutual funds experienced net outflows of ₹4,706.70 crore in November, a significant decrease from the net inflows of ₹42,633.70 crore in October.

According to data from AMFI, small-cap and mid-cap mutual fund schemes remained popular in the equity category, with net inflows of ₹3,699.24 crore and ₹2,665.70 crore respectively in November. 

Throughout the year, small-cap funds have received net inflows of ₹37,178 crore since January, while mid-cap funds have seen net investment of ₹21,520 crore. 

On the other hand, large-cap funds have experienced net outflows of ₹2,687 crore since the beginning of the year. In November, large-cap funds saw a modest net inflow of ₹307 crore.

“The overall AUM stands at 49,04,992.39 crores in November 2023. We believe this trend will continue through December as well and the numbers will continue to remain positive,” says NS Venkatesh, CEO of AMFI.