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Out of the total equity inflow in mutual funds, nearly ₹3,857 crore was seen in smallcaps and ₹4,259 crore in sectoral funds. The SIP figure stood at ₹17,610 crore in December, AMFI data revealed.
Most of the mutual fund inflows were seen in equity funds. With ₹16,997 crore added to equity mutual funds in December, total inflows into equity schemes touched a whopping ₹1,61,573 crore during the calendar year 2023.
While it took almost 50 years for the mutual fund industry to build the first ₹10 lakh crore of AUM, the last ₹10 lakh crore, from ₹40 lakh crore to ₹50 lakh crore, was amassed in just a little over a year.
Buch hailed mutual fund SIPs as a great tool for financial inclusion. "In the external marketplace, I think the most important piece that I would like to see happening is greater financial inclusion."
The contributions via systematic investment plans (SIPs) topped the Rs 17,000 crore level for the first time in November. The SIP book came in at Rs 17,073 crore against Rs 16,928 crore in October.