Despite the slight dip, SIP contributions remained above the ₹30,000 crore mark for the third consecutive month.
On a year-on-year basis, SIP inflows were 16% higher compared with ₹26,635 crore in May 2025.
The mutual fund industry’s total net assets under management (AUM) stood at ₹81.58 lakh crore in May, marginally lower than ₹81.92 lakh crore in April, while average AUM (AAUM) came in at ₹83.46 lakh crore.
Retail AUM, comprising equity, hybrid and solution-oriented schemes, rose to ₹47.91 lakh crore from ₹47.41 lakh crore in April.
Experts said SIP resilience continues to anchor the industry even as broader equity flows moderated. Venkat Chalasani, Chief Executive, AMFI, said the industry’s growth remains structurally supported by systematic investing.
“SIP inflows stood at ₹30,954 crore, while contributing SIP accounts remained steady at 9.64 crore, reflecting the growing preference for mutual funds as a structured approach to wealth accumulation,” he said.
Fresh SIP registrations exceeded discontinuations for the first time in three months, with 54.16 lakh new SIPs added versus 51.70 lakh stoppages, indicating easing churn in the retail investment book.
Commenting on investor behaviour, Santosh Joseph, Founder & Partner, Germinate Investor Services LLP said SIP stability reflects a maturing retail base, even as lump-sum flows remain sensitive to market conditions.
“Investors are sticking to SIP discipline, but are more cautious on lump-sum allocations due to market volatility. Earlier, even small dips triggered aggressive buying, but now investors are more selective and prefer waiting for clearer entry points,” he said.
He added that monthly volatility, ranging from strong gains in April to weakness in May, has reinforced disciplined investing through SIPs, while limiting opportunistic lump-sum inflows.
AMFI data also showed SIP assets stood at ₹17.12 lakh crore in May, accounting for about 21% of total industry AUM, while the number of contributing SIP accounts remained steady at 9.64 crore.
Separately, Systematic Investment Fund (SIF) assets rose 12% month-on-month to ₹13,814 crore, with inflows of ₹1,396 crore driven by hybrid and equity-oriented strategies.
