Mutual fund SIPs hit ₹19,000 crore, overall AUM crosses ₹54 lakh crore in February

The mutual fund industry, experiencing steady growth since the Covid-19 pandemic, has achieved a new record Total Assets Under Management (AUM) of ₹54,52,487 crore compared to ₹52,74,000 crore in January 2024.

The Systematic Investment Plan (SIP) category has also reached its highest ever AUM at ₹10,52,566 crores for February, up from ₹10,26,966 crore in January 2024. Moreover, SIP for February crossed ₹19,000 crore compared to ₹18,300 crore in January 2024. Currently, the Indian mutual fund industry has 8.2 crore SIP accounts, with an addition of 49 lakh new SIPs in the month of February.

In terms of inflow, the equity category saw ₹26,865 crore for February 2024 compared to ₹21,780 crore in January 2024, marking a 23% increase from the previous month. However, other categories such as debt and hybrid schemes experienced declines of 18% and 10% respectively compared to the previous month.

The significant rise in SIP and overall industry AUM can be attributed to the steady increase in the number of investors entering the capital markets via mutual funds. The number of mutual fund folios has also reached a new high of 17.41 crore, with 13.5 crore retail mutual fund folios. Additionally, the retail category of AUM reached an all-time high of ₹30,70,640 crore.

The mutual fund industry has shown positive inflow of money for since October 2021. The SIP number has nearly doubled from ₹10,351 crore in October 2021 to ₹19,000 crore in February 2024.

Stocks of Asset Management Companies (AMCs) and brokerage companies, such as HDFC AMC, NAM India, Angel One, and Share India Securities are expected to remain in focus on Monday due to latest strong industry numbers.