North India Statesman
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For the first time in the month of October, the figure of investment in mutual funds through Monthly Systematic Investment Plan (SIP) was Rs 1.5 crore. The figure of Rs 25,000 crore has been crossed.
This increase in SIP has been seen due to retail investors increasing their investments in the hope of profits after the recession in the stock market in the month of October. According to the data released by the Association of Mutual Funds in India (AMFI), Rs. Rs 25,322 crore has been invested, in September this figure was Rs. 24,509 crores. Similarly, the number of SIP accounts also increased from 9.87 crore at the end of September to a record high of 10.12 crore in October. The investment figure under SIP in October, 2023 will be Rs. 16,928 crores.
There was a net increase of 24.19 lakh in SIP accounts in October, while the number of newly registered SIP accounts in the month stood at 63.69 lakh. Let us tell you that in the month of October, Sensex has declined by 5.77 percent and Nifty has declined by 6.22 percent. This increase in SIP account numbers and monthly investment inflows indicates that retail investors still have confidence in the Indian stock market's ability to deliver returns despite such a slowdown. The monthly investment figure in SIP in April, 2016 was Rs. Which increased to Rs 3,122 crore in March 2020. 8,500 crore level. There has been a steady increase in SIP investments since the Covid pandemic and SIP investment inflows in September, 2021 stood at Rs. Had reached Rs 10,000 crore. In April, 2024 this figure will be Rs. The level of Rs 20,000 crore has been crossed. There has been a continuous increase in this investment after 2016.
Despite rising investment, SIP AUM fell in October
Assets under management under SIP in the month of September were Rs. 13.81 lakh crore reached a record level, which was the figure in August. Was 13.39 lakh crores. However, due to recession in the market in October, this AUM figure came down to Rs 100. 13.30 lakh crore.
