Inflow through SIP route hits all-time high of Rs 62.22 bn in December

Inflow through the systematic investment plan (SIP) route have hit an all-time high of Rs 62.22 billion in December. Put together, the overall SIP inflow in 2017 stood at Rs 595 billion. It is worth noting that about 85 per cent of SIP inflow are into equity-oriented schemes. Interestingly, the massive SIP inflows in 2017 has surpassed the overall equity inflow during 2016. In 2016, inflow into equity schemes was of Rs 549 billion. The total SIP accounts have risen to 18.8 million. So far this financial year, the mutual fund industry has added more than 5 million new SIP accounts. Industry officials say at this pace, the monthly SIP book should cross Rs 70 billion, against Rs 30 billion two years ago.