Systematic Investment Plan (SIP) inflows have reached an all-time high in February 2024, surpassing the ₹19,000 crore mark for the first time. The latest data reveals that SIP inflows stood at ₹19,187 crore, marking a notable increase from the previous month's figure of ₹18,838 crore.
The number of new SIP registrations stood at 49.79 lakh.
According to the Association of Mutual Funds in India (AMFI), the SIP assets under management (AUM) for February 2024 stood at ₹10.52 lakh crore.
The number of SIP accounts also reached 8.20 crore, up from 7.91 crore in January 2024.
Financial experts attribute this surge in
SIP inflows to several factors, including increased awareness about long-term wealth creation, the ease of investing through SIPs, and the market's overall positive sentiment.
Venkat Chalasani, Chief Executive, AMFI said, “As we delve into the February 2024 data, we observe that there is a surge in SIP accounts, totalling 8.20 crore with 49.79 lakh new SIP registrations. This underscores investors' unwavering commitment to disciplined wealth accumulation."
