Indian Mutual Fund: SIPs accounts stood at 2.98 CRORE!


Mutual Fund SIPs accounts stood at 2.98 CRORE!

The total amount collected through SIP during December 2019 was Rs. 8,518 crore

Indian Mutual Funds have currently about 2.98 crore (29.8 million)  SIP accounts through which investors regularly invest in Indian Mutual Fund schemes.

Systematic Investment Plan or SIP as it is commonly known, is an investment plan (methodology) offered by Mutual Funds wherein one could invest a fixed amount in a mutual fund Scheme periodically at fixed intervals - say once a month instead of making a lump-sum investment. The SIP installment amount could be as small as ₹ 500 per month. SIP is similar to a recurring deposit where you deposit a small /fixed amount every month.

SIP is a very convenient method of investing in mutual funds through standing instructions to debit your bank account every month, without the hassle of having to write out a cheque each time.

SIP has been gaining popularity among Indian MF investors, as it helps in Rupee Cost Averaging and also in investing in a disciplined manner without worrying about market volatility and timing the market.

AMFI data shows that the MF industry had added, on an average, 9.55 lacs SIP accounts each month during the FY2019-20, with an average SIP size of about ₹2,850 per SIP account.           

Month-wise amount collected from FY 2016-17 onwards are mentioned below :

Month
SIP Contribution  core

FY 2019-20
FY 2018-19
FY 2017-18
FY 2016-17
Total during FY
74,398
92,693
67,190
43,921
March
  8,055
7,119
4,335
February
   8,095 
6,425
4,050
January
  8,064
6,644
4,095
December
8,518
   8,022
6,222
3,973
November
8,273
  7,985
5,893
3,884
October
8,246
    7,985   
5,621
3,434
September
8,263
    7,727   
5,516
3,698
August
8,231
   7,658   
5,206
3,497
July
8,324
 7,554
4,947
3,334
Jun
8,122
7,554
4,744
3,310
May
8,183
7,304
4,584
3,189
April
8,238
6,690
4,269
3,122
Details of new SIPs registered and discontinued during FY 18-19 are as under :
                                                                                                                                                                  (SIP Count in Lakh)
Month
Total No. of outstanding SIP Accounts
No. of New SIPs registered
No. of SIPs discontinued
SIP AUM
₹ crore
SIP Contribution
 ₹ crore
Apr – Nov 19
297.73
85.99
50.51
3,17,022
74,398
Dec 19
297.73
9.62
5.91
3,17,022
8,518
Nov 19
294.02
10.89
5.55
3,12,155
8,273
Oct 19
288.68
10.03
5.30
3,03,400 
8,246
Sep 19
283.95
8.50
5.63
2,88,735
8,263
Aug 19
281.08
8.80
5.83
2,71,105
8,231
Jul 19
278.11
10.19
5.63
2,68,864
8,324
Jun 19
273.55
9.29
5.40
2,81,393
8,122
May 19
269.66
9.65
5.86
2,79,629
8,183
Apr 19
265.87
9.02
5.40
2,69,621
8,238
Apr 18- Mar 19
262.25
109.54
58.75
2,66,815
92,693


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