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Business News/ Money / Personal Finance/  Mutual funds: SIP contributions jumped 28% to nearly 2 lakh crore in FY24, shows AMFI data

Mutual funds: SIP contributions jumped 28% to nearly ₹2 lakh crore in FY24, shows AMFI data

Inflows to mutual funds via systematic investment plans spiked in the fiscal year 2023-24, rising from ₹13,700 crore in April 2023 to ₹19,271 crore in March 2024, signifying a rise of 40 per cent.

Inflow to hybrid mutual funds reached ₹1.44 lakh crore in FY2024.Premium
Inflow to hybrid mutual funds reached 1.44 lakh crore in FY2024.

Thanks to the ongoing bull run, total inflow into equity mutual fund schemes during the fiscal year 2023-24 touched 1.84 lakh crore. Significantly, total inflow into all the mutual fund schemes via systematic investment plans (SIPs) stood at 1.99 lakh crore, 28 per cent higher than 1.56 lakh crore recorded in the preceding financial year.

Debt mutual funds saw an outflow of 23,098 crore, according to the data released by the Association of Mutual Funds in India (AMFI).

At the same time, the inflow to hybrid mutual funds reached 1.44 lakh crore in fiscal 2024.

For the unversed, hybrid mutual funds comprise conservative, balanced, dynamic asset allocation, multi-asset allocation, arbitrage and equity savings mutual funds.

Month                          Equity ( crore) Debt ( crore)
Apr                                      6,480.29 1,06,677.36
May                                        3,24045,959
June                                            8,637-14,135
July                                 7,62661,440
Aug                                   20,245-25,872.5
Sep                                          14,091-1,01,511
Oct                                       19,95742,633
Nov                                             15,536-4,707
Dec                                        16,997-75,560
Jan                                         21,78076,469
Feb                                         26,86663,808
Mar                                        22,633- 1,98,299
Total                                          1,84,088(23,098.50)

SIPs on the rise

Additionally, inflows to mutual funds via systematic investment plans (SIPs) have been on an upswing during the fiscal year 2024, rising from 13,700 crore in April 2023 to 19,271 crore in March 2024, reflecting a jump of 40 per cent in one financial year.

In fact, SIP contribution into mutual funds rose month after month during the entire fiscal year, barring only April and June.

Month        SIP Contribution ( crore) 
April             13,728
May                14,749
June                 14,734
July              15,245
Aug             15,814
Sep                  16,042
Oct               16,928
Nov            17,073
Dec                 17,610
Jan                   18,838
Feb                19,187
Mar              19,271

As one can see from the table above, investors contributed 13,728 crore in April via SIPs, which rose to 15,245 crore in July.

The SIP contribution spiked further to 17,073 crore in November, 18,838 crore in January and 19,271 crore in March, thus taking the yearly contribution to 1,99,219 crore.

Industry AUM

Meanwhile, overall net assets under management (AUM) of the mutual fund industry declined by 2 per cent to 53,40,194 crore at the end of March 2024, as against 54.54 lakh crore as on February 29 this year, the AMFI data revealed.

The Retail MF folios (Equity + Hybrid + Solution Oriented Schemes) were also at an all-time high of 14.24 crore for March 2024, compared to 13.94 crore for February 2024.

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Published: 11 Apr 2024, 04:58 PM IST
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