Indian Mutual Fund industry saw addition of nearly 36.77 lakh new SIP accounts surpassing the seven-crore threshold

In September 2023, the contribution through systematic investment plans (SIPs) reached a new peak of Rs. 16,042 crores. The entire SIP contribution was Rs. 90,312 crores in the first half of FY24.

There were 36.77 lakh more SIP accounts opened, surpassing the seven-crore threshold. In total, there are 7.13 crore accounts in present.

Mutual funds added 77 million net SIP accounts in the first half of FY24, up from 56 million in the same period of FY23.

In September 2023, the SIP asset under management (AUM) reached at Rs 8.70 lakh crore compared to Rs 8.47 lakh crore in August 2023 and 7.94 lakh crore in June 2023.

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