The latest data from AMFI shows that monthly SIP contributions rose to Rs 24,508.73 crore in September, up from Rs 23,547.34 crore in August.
According to the monthly data released by AMFI, the number of new SIPs registered in September stood at 6,638,857. Also, the SIP AUM reached an all-time high of Rs 13.81 lakh crore.
The total number of SIP accounts reached a record 98.744 million compared to 96.136 million in August.
“The SIP numbers hit a new peak at ₹24,508 crore with 4% & 52% M-o-M & Y-o-Y growth, respectively, with a total industry AUM of 68 lakh crore. Reflecting the resilience of domestic investors and their strong faith in the fundamentals of the Indian economy,” said Feroze Azeez, Deputy CEO, Anand Rathi Wealth Limited.
The average assets under management (AAUM) for September 2024 stood at Rs 68 lakh crore, up from Rs 66.04 lakh crore in August.Mutual fund folios reached an all-time high of 210,515,684 in September 2024. Retail MF folios, which include equity, hybrid, and solution-oriented schemes, also reached an all-time high of 168,161,366 in September, compared to 163,550,846 in August.The retail AUM, which includes equity, hybrid, and solution-oriented schemes, stood at Rs 40.44 lakh crore for September.
Equity mutual funds experienced positive inflows for 43 consecutive months, starting from March 2021. The inflows for growth/equity-oriented schemes in September amounted to Rs 34,419 crore.
“September 2024 has showcased the unwavering resilience. The consistent inflow of investments reflects the increasing trust and confidence in mutual funds. The industry’s continued diversification into various product categories and innovative offerings is driving growth and providing investors with a wider range of options to meet their diverse financial goals,” said Venkat Chalasani, Chief Executive, AMFI.
“The industry assets rose to a new high, with an asset base of Rs 67.09 lakh crore at the end of Sept 2024. The mutual fund industry is proud to reach the milestone of 5,01,22,609 unique investors. This, along with a folio count surpassing 21 crores, underscores the efforts taken by the AMCs and distributors to spread financial awareness. The ‘Mutual Funds Sahi Hai campaign’ has helped build investor confidence, indicated by the growing appreciation for mutual funds as a preferred investment avenue. The steadily increasing SIP contribution of INR 24,508.73 crores in Sept 2024 highlights the shifting investor sentiment towards disciplined and long-term wealth accumulation,” he added.
“As mutual funds remain a key stabilising factor for capital markets in India, our commitment towards transparency and excellence remains resolute as we strive to deliver exceptional investment experience and adapt to the evolving needs of our investors,” he further added.