Driven by record entries in systematic investment plans (SIPs), assets under management of the entire mutual fund industry jumped to nearly Rs 37 lakh crore in September, growing by more than 33 % compared to last year period, according to Amfi data.
Total assets under management (AUM) reached Rs 36.74 lakh crore last month, up from Rs 27.6 lakh crore in September 2020, data from the Association of Mutual Funds (Amfi) showed on Friday.
Amfi CEO NS Venkatesh attributed the record AUM to record entries into SIPs which first crossed the 10,000 crore rupee mark.
It also reflects the continued confidence of retail investors in mutual funds. Retail investors prefer mutual funds to traditional, low-yielding savings vehicles like bank term deposits as well as gold and real estate, he added.
The number of SIP accounts increased from 4,324,448,048 in August to 4,48,970,602 in September, while SIP assets grew from Rs 9,923.15 crore in August to Rs 10,351.33 crore last month . Overall SIP assets reached Rs 5,444,976 crore in September, compared to Rs 5,26,883 crore in August.
The industry added a whopping 89.15 lakh folios in the first six months of FY22, compared to over 81 lakh folios added in the whole of FY21.
Retail folios – stock, hybrid and solution-oriented programs – at Rs 9.15.36 crore are also at an all-time high, helping the monthly SIP contribution touch Rs 10,351.33 crore.
Retail AUMs (stocks, hybrids, solution-oriented programs) at a record high at Rs 17.72.049 crore, now form 48.23% of total industry AUM at Rs 36.73 lakh crore.
Regarding the massive exits from the system, Venkatesh said this was mainly due to the debt category and part of it was because a portion of institutional investors pulled out of mutual funds in the past. end of each quarter.