Monthly SIP folios touch 3-year high in March
Monthly SIP Folios: Mutual Fund SIP investments raised in the month of March 2021. As of the source, the SIP accounts raised to a 3-year high of 9.62 lakhs in March. However, the March results doubled the last 5-year average of 4.52 lakh number. In January 2018, the highest net SIP account addition in a single month was 9.68 lakhs.
Since May 2018, the new SIP accounts opened to those closed climbed to 2.36 in March. Although, in the last year, the ratio averaged 1.55.
According to the source, the new SIP accounts opened to those closed climbed to 2.36 in March. During the same month, the average SIP investments per account rebounded to Rs. 2,646 against Rs. 2,074 in February. However, it was the lowest in the 5-year period.
The combined impact of more SIP accounts and allocations secured the SIP book expand to a record Rs. 9,182 crores in March 2021. However, it raised 6% higher than the previous high of Rs. 8,641 crores in March 2020.
As per the AMFI reports, nearly 90% of the SIPs are linked to equity funds. It around one-third of the total industry AUM.
At prevailing, Indian Mutual Funds have nearly 3.73 crores SIP folios. Moreover, individual investors regularly invest in Indian Mutual Funds.