February saw a new peak for monthly SIP

MUMBAI: Driven by robust inflows from individual investors, funds invested in mutual fund schemes via systematic investment plans (SIPs) in February crossed the Rs 19,000 threshold for the first time, and the total number of SIP accounts reached a new high of Rs 10.5 lakh crore.

The industry association Amfi revealed numbers that indicated the total monthly inflow was around Rs 300 crore more at Rs 19,187 crore than the Rs 18,838 crore reported in January.

The total assets handled by the mutual fund sector reached a record high of Rs 54.5 lakh crore in February as well. According to Amfi statistics, the total assets that have entered via the SIP method throughout time have also hit a record high of Rs 10.5 lakh crore. The month’s net inflows via the equities channel were Rs 26,866 crore, the most in the previous 22 months.