Systematic Investment Plan (SIP) inflows declined 3% month-on-month to ₹31,115 crore in April from the record ₹32,087 crore reported in March, according to data released by the Association of Mutual Funds in India (AMFI).
The fall followed fluctuations seen during the first quarter of 2026. SIP inflows stood at ₹31,002 crore in January before declining to ₹29,845 crore in February.
The February figure was affected by the shorter month and delayed auto-debit transactions after the last working day fell on a non-banking Saturday.
March had recorded a sharp recovery in SIP collections, partly due to spillover transactions from February. AMFI Chief Executive Venkat Chalasani said the March figure was supported by delayed collections that were processed in the following month.
He said April inflows reflected a return to regular monthly levels after the temporary rise seen in March. The number of contributing SIP accounts also moved closer to average levels during the month.
Contributing SIP accounts stood at 9.65 crore in April compared with 9.72 crore in March and 9.44 crore in February.
Despite the moderation in monthly inflows, SIP assets increased to ₹16.85 lakh crore in April. SIP contributions accounted for 20.6% of the mutual fund industry’s total assets under management (AUM).
Investor churn remained elevated during the month. AMFI data showed nearly 50 lakh SIP accounts were discontinued, while the combined new and existing SIP registrations stood at around 51.28 lakh accounts. This translated into a SIP stoppage ratio of about 97.6%.
A stoppage ratio close to 100% indicates that closures and completed SIP tenures were nearly equal to fresh registrations during the period.
Equity mutual funds received net inflows of ₹38,440 crore in April, lower than ₹40,450 crore in March but higher than ₹25,978 crore recorded in February. The month is the 62nd consecutive month of positive equity inflows.
Debt mutual funds recorded net inflows of ₹2.5 lakh crore after witnessing outflows of ₹2.95 lakh crore in March. Liquid funds accounted for the highest inflows during the month.
Mutual fund inflows moderated in April after March’s record collections, while SIP participation remained broadly stable. Equity schemes continued to receive positive flows, and debt funds saw a recovery led by short-duration categories.
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Published on: May 12, 2026, 11:48 AM IST
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