New Delhi, April 13 -- Systematic investment plan (SIP) inflows hit a new record high of Rs.32,100 crore in March, rising 8% month-on-month. But this hasn't been enough to mask the fact that net inflows into equity schemes have slipped year-on-year in FY26 against a growth in FY25.

Now, it's not as if inflows typically spike in March, as it is the last month of a financial year. Note that SIP inflows in March have been flat month-on-month in FY25 and FY24. Clearly, retail investors have taken advantage of the dip in equities that started due to concerns around the West Asia war. SIP has helped push net inflows (new money coming in) into equities to an eight-month high of Rs.40,500 crore in March.

Despite robust inflows last month, asset...