Mutual fund SIP inflows hit 31-month low at Rs 7,302 cr in November

Investment in mutual funds through systematic investment plans dropped to a 31-month low of Rs 7,302 crore in November amid challenging economic environment.
However, investment through the Systematic Investment Plans (SIPs) route had risen in October after six months of continuous decline.
The 44-player mutual fund industry witnessed an inflow to the tune of Rs 7,302 crore through SIPs in November as compared to Rs 7,800 crore in the precedingmonth, data from the Association of Mutual Funds in India (Amfi) showed.
This was the lowest-level since April 2018, when the investment through the route wasRs 6,690 crore.
Since the last three days of November were non-business days, a significant amount of SIP flows might not be reflected in the official numbers.
It is also significant to note that there has been a healthy addition of 3.39 lakh SIP accounts in November.
Fund collection through SIP was Rs 7,788 crore in September, Rs 7,791 crore in August and Rs 7,831 crore in July. It dr