There is a 51% rise in systematic investment plan (SIP) contribution to mutual funds (MFs) so far this financial year. At a time the markets are facing headwinds and stocks have corrected over 10%, the inflows through the SIP mode has hit an all-time high of Rs 66.4 billion in January. This is over the 62% rise in the corresponding previous month. Total number of SIP accounts is nearly 20 million.
The April-January period has witnessed total SIP inflows of over Rs 536 billion. It stood at Rs 355 billion a year ago. In the current fiscal year, SIP inflow surpassed those received during 2016-17. In FY17, SIP inflow stood at Rs 439 billion. FY18 is likely to end with total SIP inflow of nearly Rs 663 billion, if the trend continues.