Systematic Investment Plan (SIP) flows strengthened further in December, with monthly inflows rising to a record Rs 31,002 crore, up from Rs 29,445 crore in November, taking overall SIP assets under management (AUM) to Rs 16.63 lakh crore, or 20.7% of the mutual fund industry’s total assets. The number of contributing SIP accounts increased to 9.79 crore in December, compared with 9.43 crore in November, reflecting steady growth in retail participation.