“… it is felt expedient to collect the SIP
data from individual AMCs from now on, so as to rule out any doubt about the correctness of the data provided by the RTAs,” Amfi
said in a communication to fund houses.
Earlier, the industry body sourced data from RTAs, to reduce reporting burden on MFs.
According to Amfi’s format, the MFs
will have to share data for the number of live SIP accounts, SIP contribution collected and SIP assets managed at the end of the month.
Further, the fund houses will also have to provide data on the ageing of the SIPs, i.e. number of accounts that are less than one-year old, between one-two years, two-three years, three-four years, four-five years and over five-year old.
The industry body has also sought SIP data from MFs
for April and May, so that if there is any differences with the RTA-sourced data, it can be corrected on a retrospective basis.
According to current SIP disclosures, the SIP book has contracted six per cent; from peak of Rs 8,641 crore to Rs 8,123 crore in May.
Industry participants suggest the move on changing on how SIP data is collated can throw up surprises for the Rs 24 trillion MF industry, as investor sentiments have been weak, but it may not be reflected in the gross SIP contribution data.