Monthly systematic investment plan (SIP) contributions in India touched a record high of Rs 32,490 crore in September 2026, extending the steady growth in retail investments through mutual funds even as the industry’s overall assets under management (AUM) contracted during the month.
Data released by the Association of Mutual Funds in India (AMFI) showed that SIP inflows rose by Rs 193 crore, or around 0.6%, from Rs 32,297 crore in August. Monthly contributions had crossed the Rs 32,000-crore mark for the first time in August, highlighting the continued participation of investors through regular investment plans.
Advertisement
Around 63 lakh new SIP accounts were registered in September, while the total AUM linked to SIP investments stood at Rs 17.86 lakh crore at the end of the month. SIPs allow investors to put a fixed amount into mutual fund schemes at regular intervals, typically every month, helping them build investments over time without committing a large sum at once.
The rise in SIP contributions came even as the mutual fund industry’s total AUM declined by around 5.1% to Rs 82.64 lakh crore on September 30, from Rs 87.08 lakh crore at the end of August. The contrasting trends underline the difference between fresh investments made during a month and the overall value of assets held by the industry.
Debt mutual funds witnessed net outflows of Rs 1.83 lakh crore in September, contributing to the pressure on the industry’s overall asset base. Changes in market valuations and investor redemptions can also affect total AUM, even when fresh contributions through SIPs continue to increase.
Equity-oriented mutual funds, meanwhile, recorded inflows of Rs 38,306.55 crore in September, up nearly 31% from Rs 29,328.62 crore in August. Small-cap funds attracted the highest inflows among the equity categories listed, at Rs 9,038.57 crore, followed by mid-cap funds at Rs 7,834.84 crore and flexi-cap funds at Rs 6,701.80 crore.
The September figures indicate that regular mutual fund investing remained resilient despite the decline in the industry’s overall assets. While the record SIP contribution points to continued investment through systematic plans, the fall in total AUM reflects the influence of other factors, including debt fund outflows and fluctuations in the value of existing investments.