SIP inflow hits ₹25,000 crore for 1st time, equity fund inflows at record Rs 41,887 crore
Updated: Nov 11th, 2024
The monthly systematic investment plan (SIP) inflow made a new all-time high in India at₹ 25,323 crore in October, from ₹24,509 crore in September, according to the latest data from the Association of Mutual Funds in India (AMFI) on Monday.
The SIP inflow was recorded at ₹16,928 crore in the same month last year.
The number of SIP accounts stood at its highest ever at 10.12 crore in October 2024. It was 9.87 crore in September. Net 24.19 lakh SIP accounts were added in the last month.
According to AMFI data, open-ended mutual funds performed well in October. This was the 44th consecutive month that inflows into equity mutual fund schemes have been positive. Open-ended equity mutual fund inflows surged 21.69% on a month-on-month (MoM) basis to ₹41,887 crore in October.
Last month, strong investment was recorded in all categories including smallcap, midcap, and largecap.
Inflows into the largecap fund category doubled on a monthly basis in October to ₹3,452 crore. Net investment in the midcap fund category increased by 50% on a monthly basis to ₹4,683 crore. Inflows into the smallcap fund category surged by 23% on a monthly basis to ₹3,772 crore.
The increase in mutual fund inflows came at a time when the stock market performance remains weak.
Sensex and Nifty have fallen by 5.77% and 6.22%, respectively in October. Inflows into sectoral and thematic funds fell 7% month-on-month to ₹12,279 crore in October. Last month, new fund offers in the sectoral and thematic funds category raised ₹3,517 crore. There was an inflow of ₹1,57,402.30 crore in the fixed-income category, debt mutual funds.
The highest investment of ₹83,863 crore was recorded in the short-duration liquid fund category in October. Overnight funds and Money market funds saw inflows of ₹25,783 crore and ₹25,303 crore, respectively in October.
According to Himanshu Srivastava from Morningstar Investment Research India, there was no stopping Indian investors from investing in equity-oriented mutual funds in October. “During the month, investors pumped in ₹41,886.69 crore, which is the highest ever monthly net inflow into equity-oriented funds and a growth of 21.7% from the net inflow of ₹34,419 crore received in September,” he said.
(This story was taken from a syndicated feed and was only edited for style by Gujarat Samachar Digital staff)
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