In January 2024, systematic investment plans (SIPs) witnessed a surge, reaching an all-time high of ₹18,838 crore, indicating a significant uptick from the previous month's ₹17,610 crore. The robust growth in SIP inflows is complemented by an increase in the number of new SIP registrations, setting a milestone at 51.84 lakh.
Live TV
Loading...
According to the Association of Mutual Funds in India (AMFI), the SIP assets under management (AUM) for January 2024 stood at ₹10.26 lakh crore, showcasing an increase compared to December 2023's ₹9.96 lakh crore.
The number of SIP accounts also reached 7.92 crore, up from 7.63 crore in December 2023.
Venkat Chalasani, Chief Executive of AMFI, expressed his insights on the January 2024 data. "As we reflect on the latest data within the mutual fund industry, it is abundantly clear that we are in an era of growth and participation through financial savings instruments."
He highlighted the surge in SIP accounts and the milestone of over 51.84 lakh new SIP registrations, emphasising the commitment of investors towards disciplined wealth creation.
"Moreover, the industry's net AUM soaring to ₹52.74 crore further accentuates the resilience and potential of mutual funds as a preferred investment avenue," he added.
Chalasani also underlined the sustained retail participation across the country, attributing it to increasing financial literacy and recognising the crucial role played by Asset Management Companies (AMCs) and dedicated distributor fraternity in fostering a culture of informed investment.
Addressing the ongoing regulatory reforms and the industry's shift towards SIPs, Chalasani expressed confidence in the Indian mutual fund industry's trajectory of sustained growth and relevance.
First Published: Feb 8, 2024 4:57 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Telangana CM violated poll code, defer Rythu Bharosa payment, says Election Commission
May 7, 2024 9:01 PM
Lok Sabha Election 2024: How Indian political parties are leveraging AI
May 7, 2024 6:59 PM