Systematic Investment Plan (SIP) contributions in India have reached an impressive Rs 24,508.73 crore in September, marking a 4% increase from the previous month’s Rs 23,547.34 crore, according to data released by the Association of Mutual Funds in India (AMFI) on Thursday. This milestone represents the first time SIP contributions have crossed the Rs 24,000 crore threshold.
AMFI’s monthly report indicates that the number of new SIP accounts registered in September hit 6,638,857. The total assets under management (AUM) for SIPs also soared to an all-time high of Rs 13.81 lakh crore.
The total number of SIP accounts climbed to a record 98.744 million, up from 96.136 million in August. Additionally, mutual fund folios reached a staggering 210,515,684 in September, reflecting robust investor interest in the sector.
However, inflows into equity schemes saw a decline, dropping by 10% to Rs 34,419 crore in September. Specifically, small-cap scheme inflows decreased to Rs 3,070 crore from Rs 3,209 crore in August.
In the July-September quarter, the AUM for mutual funds surged by a record 12.3%, reaching Rs 66.2 lakh crore. This increase marks the largest quarterly growth in mutual fund assets in the past five years. For context, the average AUM during the previous April-June period in 2024 stood at Rs 59 lakh crore.
Furthermore, AMFI data reveals a remarkable investment of Rs 1.6 lakh crore in debt funds from July to August. Notably, the number of new investor folios from smaller cities has been steadily increasing, indicating a growing interest in equity investments among this demographic.
Industry experts predict that the mutual fund industry will surpass the 50-million unique investor mark this year, driven by ongoing optimism in the equity market and a rise in new fund offerings (NFOs). Looking ahead, the investor count could reach 100 million by 2030, with total AUM expected to reach Rs 100 lakh crore.