Key Points
Net addition of systematic investment plan (SIP) accounts rose to a record high at 2.8 million in January, nearly 2.5 times more compared with the monthly average in the past two years, show data from the Association of Mutual Funds in India...
Gross addition of accounts was also the highest on record at 5.1 million last month, while new SIP account to closure ratio a measure to gauge how many SIPs accounts opened for one closed was the best in 25 months at 2.18..
The monthly SIP book at Rs 18,872 cr was 7% higher from Dec, the fastest sequential growth in 21 months..
The share of SIP-linked funds to total mutual fund AUM nearly doubled in five years, with the SIP book growing at 33.78% annually, compared with 17.67% by the wider mutual fund industry..
Of the total mutual fund industry AUM of Rs 52.74 lakh crore at the end of January, equity schemes accounted for nearly 43%, followed by debt at 26%, passive scheme (index & ETF) at 16% and hybrid at 13%, with the balance in other schemes ..
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