SIP Flows Hit Record High in June: Amfi

Mumbai, Jul 9 (PTI) Mutual fund investors put in Rs 21,262 crore in systematic investment plans (SIPs) in June, an industry body said on Tuesday.

This is higher than the Rs 20,904 crore in May, the Association of Mutual Funds of India (Amfi) said.

The overall assets under management (AUM) from SIPs grew to Rs 12.43 lakh crore, which can be attributed to both the mark to market growth due to the surge in market and also to the new inflows, Amfi Chief Executive Venkat Chalasani told reporters.

A total of 55 lakh new SIPs were registered in June, taking the total number of SIPs to 8.98 crore, he said, adding that 32.35 lakh matured or were shut down.

He, however, did not answer a question on the net SIP investments after accounting for the outflows.

The overall AUM of the MF industry stood at over Rs 61.33 lakh crore as of June and Chalasni said there was an outflow in the debt MF front because of the advance tax payments.