BUSINESS

SIP contributions hit all time high in April with over 26 Cr


India’s mutual fund investment witnessed a historic milestone in April, as monthly systematic investment plan (SIP) contributions hit an all-time high of 26,632 crore rupees, according to data from the Association for Mutual Funds in India (AMFI) released today. Active SIP accounts rose to 8.38 crore from 8.11 crore in March, with 46 lakh new accounts opened during the month. Total mutual fund assets under management (AUM) surged to a record 70 lakh crore rupees, up from 65.74 lakh crore rupees. Net inflows stood at 2.76 lakh crore rupees, reversing March’s outflow of 1.64 lakh crore rupees. Equity mutual fund inflows slightly moderated to 24,269 crore rupees from 25,082 crore rupees. Flexi-cap funds led inflows with 5,542 crore rupees, followed by small-cap funds at 4,000 crore rupees. Sectoral/thematic funds saw a sharp rise with 2,000 crore rupees in inflows. Large-cap funds bounced back with 2,671 crore rupees in April, while ELSS funds recorded an outflow of 372 crore rupees. The data highlights strong investor confidence and growing retail participation.

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