Mutual Fund SIP Contributions Cross Rs 13,000 Crore In Oct Amid Resilience Against Market Headwinds: AMFI

Contributions to mutual fund systematic investment plans (SIP ) climbed to Rs 13,040.64 crore in October 2022 from Rs 12,976.34 crore in the prior month as investors continued to fight back against various global headwinds, the Association of Mutual Funds in India (AMFI ) said in a monthly report.

Mutual fund (MF) folios crossed an all-time high of 13.90 crore, and retail MF folios saw a new record of 11.08 crore in the same month.

The mutual fund industry’s net asset under management (AUM) was Rs 39,50,323.28 crore, while retail AUMs (equity, hybrid, and solution-oriented schemes) stood at Rs 20,44,963.2 crore in October 2022, the data showed.

The Average AUM was Rs 20,20,212.31 crore.

Also, the number of folios under retail schemes (equity, hybrid, and solution-oriented schemes) was 11,08,00,239 crore.

Presenting the monthly industry data, AMFI chief executive N.S. Venkatesh said, “Markets continue to react to the global factors and domestic rate hikes. However, investors have shown resilience and continue to invest in SIPs, with consistent contribution month on month.”

Growth In Numbers

The MF industry added 9,52,385 SIP accounts in October 2022, taking the total to 5,93,30,069. In September, the figure was 5,83,77,684.

The SIP contributions were Rs 13,040.64 in October. Furthermore, the SIP AUM stood at Rs 6,64,780.86 crore, a month-on-month change of 29,495.20 crore, the AMFI said in the note. It was Rs 6,35,285.66 crore in September.

The total number of new SIPs registered in October was 19,72,984,

Likewise, 31 schemes were launched, of which 28 are open-ended and three close-ended, in various categories, mobilising Rs 5,439 crore.

Growth in the Gold ETF space has been marginal, with an AUM of Rs 19,881 crore in October.

AMFI noted that mutual fund folios had been continuously increasing over the last two months, indicating a disciplined investment habit of small investors.