Record SIP Inflows in October: A Testament to India’s Growing Investment Culture
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In October 2024, India’s mutual fund industry celebrated a historic achievement, as monthly inflows from systematic investment plans (SIPs) crossed ?25,000 crore for the first time, reaching a record high of ?25,323 crore. This figure, a marked increase from September’s ?24,509 crore, signifies a growing trend among Indian retail investors toward disciplined, long-term wealth creation through mutual fund SIPs.
Key Milestones and Data Highlights
1. October Record: Monthly SIP inflows reached ?25,323 crore, marking a significant leap from ?24,509 crore in September 2024.
2. Year-on-Year Growth: October 2024 inflows represented a substantial increase from ?16,928 crore in October 2023, reflecting strong annual growth in retail participation.
3. SIP AUM: Assets under management (AUM) through SIPs recorded an impressive ?13.30 lakh crore in October, setting another high.
4. SIP Account Numbers: The number of active SIP accounts surged to an all-time high of 10.12 crore in October, up from 9.87 crore in September. Net new accounts created also hit a record, with 24.9 lakh accounts added during the month.
5. New SIPs registered: The number of new SIPs registered in October 2024 stood at 63.69 lakh.
6. Sector-Wide Growth: Open-ended equity mutual fund inflows also surged by 21.69% month-over-month, totalling ?41,887 crore in October 2024 across the equity segment, which further underscores investor confidence.
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