SIPs top Rs 16K-cr inflows in September: AMFI

financialexpress.com:

Systematic investment plan (SIP) contributions crossed the Rs 16,000-crore mark for the first time, in September, shows data from the Association of Mutual Funds in India (AMFI).

Total contribution for the month stood at Rs 16,042 crore, compared to Rs 15,814 crore in August. The total assets under management (AUM) under SIPs stood at Rs 8.70 trillion for September, compared to Rs 8.47 trillion for August. The number of new SIPs registered in September were 3.67 million, also the highest ever.

The industry also saw the number of unique investors cross 40 million, according to AMFI.

“The MF industry crossing the 4-crore unique investors mark is a testament to Indian retail investors’ participation in equity markets through the MF route. This was further demonstrated by the SIP contribution of Rs 16,042 crore in September — the highest till date,” said N S Venkatesh, CEO of AMFI.

Net inflows into open-ended equity schemes, however, dipped to Rs 14,091 crore from the Rs 20,161 crore seen in August, likely on account of profit-booking by investors.

This was the 31st straight month of net inflows into the category.

Outflows from large-cap funds continued, with Rs 110 crore withdrawn in September, though it was less than the Rs 349 crore withdrawn in August. Small- and mid-caps continued to attract robust inflows of Rs 2,678 crore and Rs 2,000 crore, respectively, while multi-cap funds saw Rs 2,235 crore of inflows.

The sectoral/thematic category raked in Rs 3,147 crore. “The spike in flows of this category could also be attributed to the fact that there were four new fund launches in this category, which cumulatively garnered Rs 1,629 crore during September,” said Melvyn Santarita, Analyst – Manager Research, Morningstar