New Delhi: For the first time in India, monthly systematic investment plan (SIP) numbers surged to Rs 24,508.73 crore in September, up from Rs 23,547.34 crore in August, a 4 percent increase, the Association of Mutual Funds in India (AMFI) data showed on Thursday.
The SIP contributions crossed the Rs 24,000 crore mark for the first time.
According to the monthly data released by the AMFI, 6,638,857 new SIPs were registered in September. The SIPs’ assets under management (AUM) reached an all-time high of Rs 13.81 lakh crore.
According to AMFI data, the total number of SIP accounts reached a record 98.744 million in September, up from 96.136 million in August. Mutual fund folios also reached an all-time high of 210,515,684 in September.
Meanwhile, inflows into equity schemes dropped by 10 percent to Rs 34,419 crore in September. Inflows into small-cap schemes stood at Rs 3,070, compared to Rs 3,209 crore in August.
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In the July-September period, mutual fund AUM surged by a record 12.3 percent to Rs 66.2 lakh crore. This is the country’s largest quarterly increase in mutual fund assets in the last five years. The average AUM in the April-June period in 2024 was Rs 59 lakh crore.
According to AMFI data, a record Rs 1.6 lakh crore was invested in debt funds from July to August.
Meanwhile, investors from small cities in equities have rapidly increased in recent months. The number of new investor folios coming from smaller cities has been rising on a monthly basis. According to industry experts, the mutual fund industry is set to cross the 50-million unique investor base this year. The growth is expected due to sustained buoyancy in the equity market and a surge in new fund offerings (NFOs). The investor count may reach 100 million by 2030, with Rs 100 lakh crore in total AUM.
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–IANS
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