BackMutual 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.
PremiumThanks 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 | 3,240 | 45,959 |
| June | 8,637 | -14,135 |
| July | 7,626 | 61,440 |
| Aug | 20,245 | -25,872.5 |
| Sep | 14,091 | -1,01,511 |
| Oct | 19,957 | 42,633 |
| Nov | 15,536 | -4,707 |
| Dec | 16,997 | -75,560 |
| Jan | 21,780 | 76,469 |
| Feb | 26,866 | 63,808 |
| 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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