SIP Inflows into Mutual Funds Dip Slightly in April
Systematic Investment Plan (SIP) inflows into mutual funds decreased marginally to ₹31,115 crore in April, down from ₹32,087 crore in March, amid increased volatility in equity markets. According to data from the Association of Mutual Funds in India (AMFI), the number of contributing SIP accounts fell to 9.65 crore from 9.72 crore in March. Despite sharp market fluctuations and ongoing foreign portfolio investor outflows from India, SIP assets rose to ₹16.85 lakh crore from ₹15.11 lakh crore.
April also saw 51.21 lakh SIP accounts discontinued, slightly higher than the 50.71 lakh new accounts opened during the month.
Venkat Chalasani, Chief Executive of AMFI, commented that the increase in SIP stoppages compared to new accounts could largely be attributed to Securities and Exchange Board of India (Sebi) regulations, which classify a SIP as discontinued if instalments are missed for three consecutive months. Chalasani noted that the elevated inflow figure in March included the last four days of February, which were market holidays. He emphasized that it is premature to consider the decline in SIP inflows as a trend, although market volatility may have influenced investor sentiment.
Suranjana Borthakur, Head of Distribution & Strategic Alliances at Mirae Asset Investment Managers (India), asserted that the moderation in SIP inflows should not be interpreted as a slowdown, particularly given March’s higher baseline due to spillover inflows. She stated that consistent SIP inflows around the ₹31,000-crore mark demonstrate ongoing retail participation in mutual funds.
Equity mutual fund inflows also saw a decline of 5 percent in April, falling to ₹38,440 crore from ₹40,450 crore in March.
A Balasubramanian, Managing Director & CEO of Aditya Birla Sun Life AMC, remarked that persistent investor participation in mutual funds despite volatile markets signifies the growing maturity and resilience of retail investors, who are increasingly adopting diversified allocation strategies. This transition signifies a balanced approach to wealth creation, with investors emphasizing asset allocation, stability, and long-term goal-based investing amid global uncertainties.
Navneet Munot, MD & CEO of HDFC Asset Management Company, noted that equity flows have remained robust, reflecting the maturity of the investor base and a heightened awareness of the advantages of systematic investing. He observed that while markets are subject to geopolitical developments, data suggests that long-term financial goals are increasingly steering investment decisions, rather than short-term market noise.
In related developments, gold exchange-traded funds (ETFs) attracted investments worth ₹3,040 crore in April, rising from ₹2,265 crore in March. Outflows from silver ETFs moderated to ₹125 crore from ₹684 crore, as investors capitalized on price declines to enhance their allocations.
Published on May 11, 2026
