SIP inflow crosses Rs 25k crore in October 2024, a notable increase from ₹24,509 crore in September. This is the first time SIP inflows have exceeded the ₹25,000 crore mark.
The number of new SIP registrations also saw significant growth, with 63.7 lakh new accounts in October, up from 58.7 lakh in September.
As a result, the total number of SIP accounts rose to 10.12 crore, reflecting a 2.5% increase from 9.87 crore in the previous month.
The total Assets Under Management (AUM) from SIPs reached ₹13.30 lakh crore in October, marking a 2.3% rise from ₹13.01 lakh crore in September. This growth comes amid a broader trend of rising equity inflows, with the mutual fund industry recording its 44th consecutive month of positive inflows.
The retail folios have now crossed 17.23 crore, with the total AUM standing at ₹67.26 lakh crore.
Anish Mehta, National Head of Sales, Marketing & Digital Business at Kotak Mahindra Asset Management, noted that investors are increasingly favoring large-cap funds, particularly in the current market environment. He observed, “Investors are recognizing the stability of large-cap funds, and there’s also a shift toward multi-cap and flexi-cap funds for a more balanced risk approach.”
Venkat Chalasani, CEO of AMFI, commented on the broader trend, saying, “October 2024 marks the 44th consecutive month of positive equity inflows, continuing since March 2021. This sustained momentum in SIPs and AUM is a testament to the growing maturity of Indian investors, who are focusing on long-term wealth creation through mutual funds.