Number of SIP Accounts Hits Record High Despite Decline in SIP Inflows: AMFI Data for Nov 2024

The mutual fund industry in India experienced a nuanced month in November 2024. While inflows to equity mutual funds and other schemes showed a decline, the number of SIP accounts and retail mutual fund folios reached record highs. Let’s delve into the latest AMFI data to understand the dynamics.

Equity Mutual Fund Inflows Decline

Equity mutual fund inflows in November 2024 declined by 14.18% MoM to ₹35,943.49 crore, compared to ₹41,886.69 crore in October. Among the equity categories:

• Thematic/Sectoral Funds: Witnessed a sharp 37.63% decline, recording ₹7,657.75 crore in November compared to ₹12,278.78 crore in October.
• Flexi Cap Funds: Reported ₹5,084.11 crore inflows in November, marginally lower than ₹5,180.69 crore in October.

Debt Mutual Funds and Hybrid Funds Performance

Debt mutual funds experienced a significant decrease in inflows:

• November recorded inflows of ₹12,915 crore, a sharp fall from ₹1.57 lakh crore in October.

Hybrid funds saw the steepest drop:

• Inflows fell by 75.5% to ₹4,123 crore in November, down from ₹16,863 crore in October.

SIP Investments and Accounts Reach Milestones

Despite a slight dip in SIP inflows, the systematic investment plan (SIP) segment demonstrated robust investor confidence:

• SIP Inflows: ₹25,319.66 crore in November, nearly unchanged from ₹25,323 crore in October.
• New SIP Registrations: November saw 49,46,408 new SIPs registered, compared to 63,69,919 in October.
• SIP Accounts: Reached an all-time high of 10.22 crore, surpassing the 10.12 crore accounts in September.
• SIP AUM: Stood at ₹13,54,104.70 crore in November.

Net and Average AUM Trends

The mutual fund industry’s overall assets under management (AUM) showed incremental growth:

• Net AUM: ₹68,08,101.16 crore in November, up from ₹67,25,614.61 crore in October.
• Average AUM (AAUM): ₹68,04,913.46 crore in November, slightly lower than ₹68,50,321.44 crore in October.

Record-High Mutual Fund Folios

The number of mutual fund folios reached unprecedented levels, reflecting strong retail participation:

• Total Folios: 22.08 crore in November 2024.
• Retail Folios: Equity, hybrid, and solution-oriented schemes contributed 17.54 crore folios, up from 17.23 crore in September.

Other Schemes: Mixed Performance

• Index Funds: Saw inflows drop by 45% to ₹4,342 crore in November from ₹7,931 crore in October.
• Gold ETFs: Declined 35.9% to ₹1,256 crore.
• Other ETFs: Fell sharply to ₹1,531 crore from ₹13,441 crore in October.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.