Number of SIP accounts increase by 2.40% in October

The SIP contribution in October has increased by approximately 5.52% and stood at an all-time high of Rs 16,927.86 crore in October, compared to the SIP contribution of Rs 16,042.06 crore in September and Rs 13,041 crore in October last year.

The number of SIP accounts stood at the highest ever in September at 730.02 lakh, compared to 712.93 lakh in September witnessing an increase by approximately 2.40%. The mutual fund folios also reached an all-time high of 15,96,46,790 in October from 15,70,96,187 in September.

The number of net SIPs added in October 2023 was 17,08,866, which is the highest till date. Number of new SIPs registered in October 2023 were 34,66,354.

The SIP AUM in October stood at Rs 8.59 lakh crore, compared to Rs 8.70 lakh crore in September.

The retail mutual fund folios which includes equity, hybrid, and solution oriented schemes also reached an all-time high of 12,74,88,003 in October compared to 12,54,51,947 in September.

The retail mutual fund AUM which includes equity, hybrid, and solution oriented schemes stood at Rs 25,08,983 crores in October, with an average AUM of Rs 25,59,417 crores. “Mutual Fund Industry’s growth has been on an upward trend, and we are optimistic this will continue. Despite peaking interest rates, there’s a notable surge in money market investments. Investors exhibit optimism in Gilt funds and a remarkable increase in contributions to small-cap funds, indicating strong confidence. The large-cap category has also witnessed a noteworthy resurgence, reflecting broader market recovery. SIP numbers show consistent month-on-month growth, underlining the strength of systematic investment plans,” said NS Venkatesh, CEO, Association of Mutual Funds in India (AMFI)“Looking ahead, we are confident in continued inflows into small and mid-cap funds, given the untapped potential in these segments. High SIP account openings indicate a growing, committed investor base,” he added.


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