HITS NEW HIGH AT ~62 BN
MONTHLY SIP BOOK
Inflow through the systematic investment plan (SIP) route have hit an all-time high of ~62.22 billion in December. Put together, the overall SIP inflow in 2017 stood at ~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 ~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 ~70 billion, against ~30 billion two years ago.