Mutual fund assets hit new high even as SIPs slow – Times of India

MUMBAI: Mutual fund assets under management (AUM) crossed the Rs 41lakhcrore mark for the first time ever in April even as monthly flows through systematic investment plans (SIPs) dipped to Rs 13,728 crore from Rs 14,276 crore in March.
Industry body Amfi’s data for April showed that debt funds recorded the strongest monthly net inflows ever, at nearly Rs 1.1 lakh crore despite the withdrawal of an important tax sop.
MF industry players said that last two days of the month being weekly offs contributed to the dip in SIP flows. Usually SIPs are bunched up in the first and last weeks of a month as salaries are credited during these days.
Despite the drop in SIP flows, industry veterans feel the way investors are lapping up mutual funds, this figure may see a jump.
“Investors have continued to invest…through SIPs, which is positive. We expect gross monthly inflows through SIPs to reach Rs 17,00018,000 crore per month by the end of the fiscal, indicating substantial growth potential,” said Amfi chief executive N S Venkatesh.

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