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Fund SIP flows see biggest monthly dip since DeMo

DNMUM409673 | 3/14/2018 | Author : Kumar Shankar Roy | WC :504

Mumbai: Money collected through mutual fund systematic investment plans (SIP) may have started showing the first signs of a slowdown. With the government proposing to impose long-term capital gains (LTCG) tax on equity mutual funds, industry body Association of Mutual Funds of India (Amfi) data shows that SIP contribution in February 2018 fell to Rs 6,425 crore, a drop of Rs 219 crore compared to Rs 6,644 crore mopped up in January 2018.
The numbers for February 2018 are important because this is the first month after Union Finance Minister Arun Jaitley while presenting the Budget announced the LTCG tax on equity mutual fund gains. The Rs 219 crore month-on-month (m-o-m) drop in SIP contribution at an industry level also has another s
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