SIP hit a 4-month high — ₹31,961 Cr in July, up ₹180 Cr MoM and +12.3% YoY; the strongest print since March, ~₹3.83 L Cr of annualised recurring retail money.
Industry AUM jumped to ₹85.76 L Cr — up a sharp ₹3.54 L Cr MoM on a huge ₹2.35 L Cr net inflow — but this was debt-led, not an equity surge.
Debt drew ₹1.88 L Cr — liquid funds ₹1.19 L Cr and overnight ₹40,413 Cr; classic start-of-quarter corporate-treasury parking that typically reverses.
Equity inflows moderated to ₹24,697 Cr (from ₹28,973 Cr in June); small-caps led at ₹7,768 Cr and mid-caps ₹6,192 Cr, while large-caps saw a ₹1,322 Cr outflow.
Retail SIP stays sticky — SIP AUM ₹18.20 L Cr (~21% of industry), 10.63 Cr SIP accounts and the stoppage ratio eased to 81.9%; folios at a record 28.09 Cr.
In context — SIP/DII flow keeps absorbing FII swings (page 01) and underpins the index; the July debt surge is treasury, not conviction, so watch whether it sticks.
04 · MUTUAL FUND INDUSTRY