Association of Mutual Funds in India (AMFI) confirmed that monthly contributions through Systematic Investment Plans (SIPs) slipped by 4% to ₹29,845 crore in February 2026.
This dip marks the first time in three months that SIP inflows have fallen below the ₹30,000-crore threshold, following record-breaking streaks in December and January.
The “Calendar Effect”: Why the Dip?
Industry experts and AMFI officials have clarified that this decline is largely a technical “calendar effect” rather than a sign of waning retail confidence.
- Shorter Month: February has only 28 days. Because many SIP installments are scheduled for the 29th, 30th, or 31st of a month, those payments were automatically pushed into early March, causing a temporary “on-paper” drop for February.
- Processing Cycles: The shorter window for bank mandates and payment processing also led to a lower total count of successful installments being recorded within the month.
Retail Resilience: The Silver Lining
Despite the monthly slip, the broader trend for systematic investing remains overwhelmingly positive:
| Metric | February 2026 Status | Growth / Comparison |
| Year-on-Year Growth | ₹29,845 Crore | +15% (vs. ₹25,999 Cr in Feb 2025). |
| SIP Stoppage Ratio | 75.62% | Slightly up from 74.83% in January. |
| New SIP Registrations | 65.72 Lakh | ~6.5 million new accounts opened in Feb. |
| SIP Assets (AUM) | ₹16.64 Lakh Crore | Accounts for ~20.3% of total industry AUM. |
| Total Folios | 27.05 Crore | 42.58 lakh net folios added during the month. |
Equity Inflows: Selective Risk-Taking
While SIP numbers were marginally lower, Net Equity Inflows actually rose by 8% to ₹25,978 crore in February, as investors “bought the dip” during mid-month market volatility caused by the Iran-Israel conflict.
- Mid & Small-Cap Surge: Inflows into Mid-Cap funds spiked 26% (₹4,003 Cr), while Small-Cap funds jumped 32% (₹3,881 Cr), suggesting investors are seeking growth despite valuation concerns.
- Thematic Interest: Sectoral and thematic funds saw a 187% surge in inflows (reaching ₹2,987 Cr), largely driven by 22 new fund offers (NFOs) launched during the month.
- Flexi-Cap Lead: Despite a 10% dip in net flows, Flexi-Cap remained the largest category, attracting ₹6,925 crore in February.
The “India Strategy” Perspective
Financial analysts note that the 15% year-on-year growth in SIPs proves that the “financialization” of Indian household savings is intact. Retail investors are increasingly viewing market corrections as an opportunity to average their costs rather than an excuse to stop their monthly installments.
