Monthly SIP investments in India exceed Rs.24,000 crore for the first time: AMFI

AMFI's monthly report revealed that the number of new SIP registrations in September reached 6,638,857

October 10, 2024

Assets under management for SIPs hit an all-time high of Rs.13.81 lakh crore

In a significant milestone for the Indian mutual fund industry, monthly systematic investment plan (SIP) contributions surged to Rs.24,508.73 crore in September, marking a 4 percent increase from Rs.23,547.34 crore in August, according to data released by the Association of Mutual Funds in India (AMFI) on Thursday. This is the first time SIP investments have crossed the Rs.24,000 crore threshold.

The AMFI’s monthly report revealed that the number of new SIP registrations in September reached 6,638,857. Additionally, the assets under management (AUM) for SIPs hit an all-time high of Rs.13.81 lakh crore. The total number of SIP accounts also climbed to a record 98.744 million, up from 96.136 million in August, while the overall mutual fund folios reached an impressive 210,515,684.

Despite the rise in SIP investments, inflows into equity schemes saw a decline of 10 percent, totaling Rs.34,419 crore in September. Inflows into small-cap schemes stood at Rs.3,070 crore, down from Rs. 3,209 crore in August.

During the July-September quarter, the AUM of mutual funds experienced a remarkable 12.3 percent growth, reaching Rs.66.2 lakh crore. This represents the largest quarterly increase in mutual fund assets in the past five years. The average AUM for the previous quarter, April-June 2024, was Rs.59 lakh crore.

Furthermore, the AMFI data highlighted record investments of Rs.1.6 lakh crore in debt funds during the July-August period.

Interestingly, there has been a notable rise in equity investors from smaller cities, with new investor folios from these regions increasing monthly. Industry experts project that the mutual fund sector could surpass a unique investor base of 50 million this year, fueled by sustained growth in the equity market and a wave of new fund offerings (NFOs). Looking ahead, the investor count is expected to reach 100 million by 2030, with total AUM potentially hitting Rs.100 lakh crore.

For all the latest updates, download PGurus App.