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Outflow rise from SIP accounts in H1CY24 slows growth in net inflows
Business Standard
|July 16, 2024
Recoveries from SIP accounts in June stood at over ₹10,000 crore for seventh straight month
At a time when gross systematic inflows into equity schemes are rising, redemptions are also on an upward trajectory - a sign that incumbent investors are taking money off the table even as the relentless rally brings in new investors. In June, redemptions from systematic investment plan (SIP) accounts stood at over ₹10,000 crore for the seventh straight month.
At ₹12,681 crore, the redemptions last month were a record high. As a result, net SIP inflows as a percentage of gross SIP collection declined to an 11-month low of 40 per cent. MFs raked in a net of ₹8,581 crore last month visa-vis ₹21,262 crore gross SIP inflows, shows data from the Association of Mutual Funds in India (Amfi).
This story is from the July 16, 2024 edition of Business Standard.
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