New Delhi
Monthly SIPs of mutual funds recorded contribution of Rs 25,000 crore for the first time in October 2024, up from Rs 24,509 crore in September. This figure was Rs 16,928 crore in the same period last year, indicating continuously increasing investment interest in SIP.
The number of mutual fund folios reached an all-time high of 21,65,02,804 in October. Retail mutual fund folios, which include equity, hybrid and solution-oriented schemes, also stood at an all-time high at 17,23,52,296, up from 16,81,61,366 in September. Retail AUM stood at Rs 39,18,611 crore in October, compared to Rs 40,44,098 crore in September.
Growth/equity-oriented schemes recorded investments of Rs 41,886.69 crore in October. 63,69,919 new SIPs were registered in October, and SIP AUM stood at Rs 13,30,429.83 crore. The total number of SIP accounts reached an all-time high of 10,12,34,212 in October, from 9,87,44,171 in September.
Experts believe that this growth reflects the deep penetration of the mutual fund industry in India and the maturity of investors. The industry achieved a historic milestone of reaching record AUM of Rs 67.26 lakh crore in October.
