SIP inflows hit 31-month low at ₹7,302 crore in November

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Investment in mutual funds through systematic investment plans dropped to a 31-month low of ₹7,302 crore in November amid a challenging economic environment.

However, investment through Systematic Investment Plans (SIPs) had risen in October after six months of continuous decline.

The 44-player mutual fund industry witnessed an inflow to the tune of ₹7,302 crore through SIPs in November compared with ₹7,800 crore in the preceding month, data from the Association of Mutual Funds in India showed. This was the lowest since April 2018, when investments via SIP clocked ₹6,690 crore.

Net addition of SIP accounts stood at 3.39 lakh in November. Fund collection through SIP was ₹7,788 crore in September and ₹7,791 crore in August.

It had dropped below the ₹8,000 crore-mark in June to ₹7,917 crore. Marketmen said SIP investments had fallen because investors wanted to maintain some liquidity as the situation was uncertain when it came to their jobs and businesses.

Equity mutual funds, which mainly depend on SIP for flows, saw outflow of ₹12,917 crore in November, making it the fifth straight month of withdrawal as investors booked profit amid higher market valuations.

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