BUSINESS: The Association of Mutual Funds in India (Amfi) on Friday clarified in response to media reports on stagnant net inflows that net systematic investment plan (SIP) flow data is not comparable with gross SIP flow figures. While gross SIP flows are the total flows accumulated by a mutual fund from SIP investors during a month, net SIP flows are adjusted for redemptions from SIP accounts during the month. In a media call, Amfi chief executive Venkat Chalasani said that since the units redeemed were accumulated over several months or years, net SIP flows are not comparable with gross flows, which only reflect the total SIP investments of that particular month. Overall (including both SIP and lump sum), equity mutual fund schemes earned a gross inflow of Rs 81,158 crore in July. After adjusting for redemptions of Rs 44,045 crore, net inflows stood at Rs 37,113 crore.
Net SIP flow data not comparable with gross figures
