The number of mutual fund folios reached an all-time high of 144,250,756 for the month of February 2023, while the number of systematic investment plans (SIPs) increased to 62,826,035 in the month, up from 62,162,694 in January 2023, according to data from the Association of Mutual Funds in India (Amfi).
The SIP assets under management (AUM) was registered at Rs. 6,74,414.92 crore for February 2023 as against Rs. 6,73,774.80 crore in January.
The SIP contribution for February 2023 was Rs 13,686.28 crore, while the number of new SIPs registered in February 2023 was 2,065,281, according to a press statement from Amfi.
The net AUM of the mutual fund industry was Rs. 39,46,256.95 crore, while the average AUM was Rs. 40,68,800.25 crore, the statement further said.
According to Amfi, the retail AUMs for equity, hybrid, and solution-oriented schemes stood at Rs. 20,27,738 crore for February 2023, while the average AUM for the month was Rs. 20,69,167 crore. The number of retail scheme folios (equity, hybrid and solution-oriented schemes) was 115,408,540.
Amfi said a total of 27 schemes were launched, including 21 open-ended and six closed-end ones, raising a total of Rs 7,187 crore.
Index funds experienced a net inflow of Rs. 6,244.30 crore in February 2023, Amfi said.
N S Venkatesh, chief executive, Amfi, said in a statement: “The monthly numbers for February 2023 show a positive trend on equity and hybrid funds. Equity mutual funds saw a substantial inflow of Rs. 15,685.57 crore, as compared to Rs. 12,546.5 crore in January 2023, and Rs. 7,303.39 crore in December 2022.”
“This reflected investors’ confidence in the growth potential of the Indian economy and their preference for long-term wealth creation through equity investments,” he added.
Venkatesh said that retail investors continued to enter the markets through the SIP route, as proven by the consistent rise in SIP inflows over the last many months.
“Due to the fact that February has only 28 days, there is a dip in SIP contribution numbers, as the flows are not recorded for the full month of 31 days. With the steps taken by the government in the budget, and a robust economy, we expect to see a continued positive trend in equity inflows in the coming months,” he further said.