Mutual Fund SIP Investments Grow by 34% to Rs.25320 Crore in 2024
A systematic investment plan (SIP) is one of the methods to invest money in a mutual fund on a regular basis. Mutual fund SIP investment has grown by 34% this year and reached Rs.25,320 crore in November, which was increased from Rs.18,838 crore in January.
The total value of SIPs increased by 32% to Rs.13.54 lakh crore in November, up from Rs 10.26 lakh crore in January. The average investment amount has grown by 4%, from Rs.2,379 in January to Rs.2,476 in November.
In November, the gross SIP inflow increased 3.5% from the average of three months. The SIP AUM now reached Rs.13.54 lakh crore, which is the second highest and increases by 45.4% year over year.
As per the report, SIPs went up 19.9% of the total assets under management (AUM) and 35.0% of the assets in open-ended equity funds.
New SIPs registered in 2024 have declined by 5% and reached Rs.49.46 lakh in November as compared to Rs.51.84 lakh in January. The SIP account registration increased by 29% in November 2024. The number of SIP accounts registered was Rs.7.91 crore in January, and in November it was increased to Rs.10.22 crore.
The new SIP account registered in December is Rs.49.5 lakh, which is down 23.5% from the past three-month average. SIP cancellation stood at Rs.39.1 lakhs, which is an increase of 1.5% from the past three-month average.
In October, the SIP account crossed the Rs.10 crore mark and reached to Rs.10.23 crore, an increase of 3.6% from the past three months’ average, and the active SIP accounts increased by Rs.2.79 crore year over year.
Mutual fund folios, which involve equity, hybrid, and solution-oriented schemes, grew approximately 3% this year. The total number of mutual fund folios registered in November and January was Rs.17.54 crore and Rs.16.95 crore.
The retail AUM, which is equity, hybrid, and solution-oriented schemes, reached Rs.39.70 crore in November, as compared to Rs.29.88 crore in January.
After analyzing the overall data, the AUM of open-ended mutual funds increased up to 29% in 2024 from Rs.5244 lakh crore in January and in November it was Rs.67.81 lakh crore, with equity mutual funds in the lead.
