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