According to data from the Association of Mutual Funds in India (AMFI), the Systematic Investment Plan (SIP) in the mutual fund industry reached a new high of Rs 11,52,801 crore in May 2024, surpassing the previous record of Rs 11,26,129 crore in April 2024. The number of new SIPs registered in May 2024 stood at 49,74,400.
The SIP contribution also reached an all-time high of Rs 20,904.37 crores in May 2024, compared to Rs 20,371.47 crores in April 2024. The number of SIP accounts reached its highest ever at 8,75,89,485 in May 2024, compared to 8,70,11,401 in April 2024.
The net asset under management (AUM) of the mutual fund industry for the month of May 2024 stood at Rs 58,91,160.48 crores, compared to Rs 57,25,897.98 crores in April 2024. The average AUM for May 2024 was Rs 58,59,951.39 crores, while for March 2024, it was Rs 57,01,358.87 crores.
Retail Mutual Fund Folios and AUM in May 2024
The mutual fund industry also saw a significant increase in retail mutual fund folios. In May 2024, the total number of retail mutual fund folios, comprising equity, hybrid, and solution-oriented schemes, reached an all-time high of 14,89,54,824, compared to 14,53,57,892 in April 2024. The retail assets under management (AUM) for equity, hybrid, and solution-oriented schemes stood at Rs 33,73,427 crores for April 2024, with an average AUM of Rs 33,62,885 crores.
Equity Inflows and New Scheme Launches in May 2024
May 2024 marked the thirty-ninth consecutive month of positive equity inflows in the mutual fund industry, starting from March 2021. The growth equity fund inflows for the month of May 2024 were Rs 34,697.00 crore. Additionally, a total of 9 schemes were launched in May 2024 in the category of open-ended schemes, raising a total of Rs 10,140 crore.
In summary, the mutual fund industry in May 2024 witnessed record-high SIPs, increased AUM, and a surge in retail mutual fund folios. The positive equity inflows and new scheme launches further contributed to the growth of the industry.