Mutual fund SIPs hit new high of Rs 21,260 crore in June, cross Rs 1 lakh crore mark in 2024 (2024)

The monthly SIP contributions remained above Rs 20,000 crore in June. Specifically, mutual fund (MF) SIP contributions totaled Rs 21,260 crore in June, up from Rs 20,904 crore in May. The total systematic investment plan (SIP) contributions for the first six months of this year have surpassed the Rs 1 lakh crore mark, reaching Rs 1.19 lakh crore.

The total assets under management (AUM) of MFs increased by 4% last month, reaching Rs 60.89 lakh crore, up from Rs 58.64 lakh crore in May. The month witnessed the launch of 17 open-ended New Fund Offers (NFOs), raising a total of Rs 15,227 crore. The highest contribution came from sectoral/thematic funds, which mobilised Rs 12,974 crore. Nine sectoral funds were launched during the month.

“SIP flows, NFO collections, and lumpsum purchase on days markets witnessed correction has led to record flows in equity. Credit to the distribution fraternity which has suggested SIPs, STPs across diversified equity schemes, and asset allocation products which has given a pleasant investor experience in mutual funds. As the confidence grows, repeat investments and word of mouth are leading to this movement in flows and industry growth,” said Manish Mehta, National Head-Sales, Marketing & Digital Business, Kotak Mutual Fund.

The net inflow in debt MFs, hybrid funds, and other funds went down on a month-on-month (MoM) basis, whereas the inflows in equity MFs surged but at a slow pace. The inflows in hybrid MFs went down by 51% on a month-on-month basis.

The inflows of other schemes dropped 7%. Debt MFs saw an outflow of Rs 1.07 lakh crore in June against an inflow of Rs 42,294 crore.

The net inflows in open-ended MFs in the first half of 2024 were recorded at Rs 3.93 lakh crore with maximum inflows observed in April of Rs 2.40 lakh crore.

The number of new SIPs registered in June stood at 55,12,962 against 49,74,400 registered in May. The SIP AUM is registered as the highest ever at Rs 12,43,791.71 crore in June compared to Rs 11,52,801 crore in May.

The SIP contribution stood at an all-time high of Rs 21,262.22 crore in June 2024 as against Rs 20,904.37 crore in May 2024. The number of active SIP accounts was highest ever at 8,98,66,962 in June as compared to 8,75,89,485 in May.

“The mutual fund industry has demonstrated remarkable growth, becoming a cornerstone of financial stability and wealth creation for crores of investors. The industry continued to benefit from sustained flows into equity-oriented mutual funds, hybrid funds and passive funds. Equity fund inflows stood at a record high of Rs 40,608 crore, while SIP inflows touched a new high of Rs 21,262 crore,” said Venkat Chalasani, Chief Executive, AMFI.

He added, “This expansion reflects the industry’s unwavering commitment to investor education, strong distribution, and digital innovation. As we continue to adapt and evolve in a dynamic market environment, we remain dedicated to fostering financial well-being for all our stakeholders.”

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