For the First Time, SIP Inflows in India Exceed Rs 26,000 Crore in December: AMFI
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New Delhi, Jan 9 (NationPress) The monthly inflows from systematic investment plans (SIPs) have crossed the Rs 26,000 crore mark for the very first time in December, indicating that small investors are increasingly leaning on mutual funds for their long-term financial goals, as reported by the Association of Mutual Funds of India (AMFI) on Thursday.
In December, the total SIP contribution reached Rs 26,459 crore, an increase from Rs 25,320 crore in November.
Furthermore, the number of mutual fund (MF) folios also experienced growth, rising to 22.50 crore in December, up from 22.02 crore in the previous month.
Previous reports highlighted a staggering 233 percent year-on-year increase in overall net inflows from SIPs in India last year, reflecting the resilience of the Indian economy amidst challenging geopolitical circumstances.
Ashwini Kumar from ICRA Analytics stated that given the structural growth narrative of the Indian economy remains robust and India is viewed as a promising spot in the global economic landscape, significant growth is anticipated for the domestic mutual fund sector in the upcoming years.
This surge in SIP investments coincided with a period of lackluster performance in equity markets, with both the Sensex and Nifty indices declining by 2.08 percent and 2.02 percent respectively in December.
A record number of 42,76,207 investors entered the Indian stock market in November, as per data from the National Stock Exchange (NSE). During the July-September quarter of this year, more than 1.6 crore individuals joined the stock market as India’s equity markets reached unprecedented heights.
The stock exchange further revealed that as of December 23, this year, the total number of registered investors had reached 21,02,25,329 (over 21.02 crore).
