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by IANS |
Mumbai, Jan 8 (IANS) Systematic Investment Plan (SIP) inflows during December last year jumped by Rs 245 crore (month-on-month) to a record high of Rs 8,518.47 crore, Association of Mutual Funds in India (AMFI) data released on Wednesday showed.
The SIP inflow in November, 2019 stood at Rs 8,272 crore. Also, the total number of SIP accounts increased to 2.97 crore while the assets under management (AUM) under SIPs surged to Rs 3.17 lakh crore, up from Rs 3.12 lakh crore in November.
AMFI CEO N.S. Venkatesh said: "Retail Investors continue to repose trust in Mutual Funds as reflected by continued flows through SIPs, despite challenging domestic economic scenario and global trade issues and conflicts.
"Average AUM at Rs 27.26L cr at an all-time high, net equity inflows trebling in the last month to Rs 4,499 cr, continued robust SIP book Rs at 8,518.47 cr and SIP AUMs at an all-time high at Rs 3.17 lakh cr is reflective of positive sentiment in equities."
Vishal Kapoor, CEO, IDFC AMC for the December AMFI data, said: "MF Industry data for December indicates a sharp pick-up in retail investor interest in equity funds, with net equity inflows jumping 4X over November and monthly SIP flows rising from Rs 8,273 crore in November to a record Rs 8,518 crore in December".
In addition to attractive broader market valuations, there seems to be a growing expectation of strong policy action and market-friendly announcements in the upcoming budget, Kapoor added.
