Mutual Funds Industry's SIP Contribution Touched Rs 11,305 Crore In December 2021: Report

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 Mutual Funds Industry's SIP Contribution Touched Rs 11,305 Crore In December 2021: Report

Mutual funds industry's monthly systematic investment plan (SIP) contribution reached a high of Rs 11,305 crore in December 2021, crossing the Rs 11,004 crore mark recorded in November 2021.

This is the highest-ever amount of SIP contribution received in a month.

The number of SIP accounts for December were 4,90,78,547, up from from 4,78,24,469 in November, the Association of Mutual Funds in India (AMFI) said in a press release.

The SIPassets under management (AUM)at the end of December was Rs 5,65,420.04 crore, which is higher than Rs 5,46,683.12 crore in November, AMFI said.

"Net asset under management as on December 31st 2021 is Rs 37,72,696.31 crore, the average asset under management (AAUM) is Rs 37,91,810.92 crore. Multicap Fund has witnessed growth in Rs 10,516.32 crore. The income or debt oriented schemes has seen outflow of Rs -49,154.10 crore," the statement noted.

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According to AMFI Chief Executive N S Venkatesh, 2021 has been a "momentous year" for mutual fund industry.

"The year has seen remarkable growth in mutual funds with hike in inflows across all categories of funds. From an Average AUM of Rs 30,96,274 crore in December 2020 to Rs 37,72,696.31 crore in December 2021, the year-on-year growth of 26 percent has set the ball rolling for mutual fund industry in 2022," MrVenkatesh said.

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