Mutual funds continue to amass more money through Systematic Investment Plan or SIP. The industry collected the highest ever monthly investments worth Rs 8,518.47 crore via SIP in December 2019, 3% higher month-on-month, shows data released by Amfi. November saw SIP collections worth Rs 8,273 crore. The collections were 6% higher year-on-year.

Total outstanding SIP folios as on the calendar year end stood at 2.97 crore. Total SIPs folios or accounts opened in December were 9.62 lakh. Gross accounts closed for the month stood at 5.91 lakh. So, the net accounts opened in December stood at 3.71 lakh.

“The discontinued SIP folios will include the matured SIP folios as well,” said NS Venkatesh, Chief Executive, Amfi.

SIP AUM as on December 31, 2019 stood at Rs 3.17 lakh crore.

Average assets under management for the industry stood at their lifetime high of Rs 26.94 lakh crore as on December 31, 2019. The average AUM has risen by 1.17% month-on month.

“The industry AUM has grown by 16% year-on-year and the broader index Sensex has risen by 14% in 2019. We are more or less tracking the market index as far as growth in AUM is concerned,” said Venkatesh.

“The mutual fund industry in the calendar year has done well. The growth of 16% is a considerable growth given the way markets have behaved in the calendar year,” added Venkatesh.

Other ETFs saw a whooping jump from Rs 2,954 crore in November last year to Rs 12,673 crore in December. The Amfi chief said the jump is mainly because of Bharat Bond ETF which has mobilised money in last month.

Mutual funds saw net outflows worth Rs 61,809 crore in December. The Amfi Chief attributed it mainly to the outflows seen in liquid funds and overnight funds.

He said, “There is nothing new in it. It is a quarter end effect. Every quarter we witness similar trend.”

Liquid funds saw net outflows worth Rs 71,158 crore and overnight funds witnessed net outflows worth Rs 8,869 crore in December.

Equity mutual funds witnessed net inflows to the tune of Rs 4,499 crore in the last month of the calendar year gone by.

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