AMFI latest data shows that the MF industry has added 11.27 lakh new SIP registrations in October. Monthly SIP registrations have grown by 33% to reach 11.27 lakh in October from 8.49 lakh in March.
However, discontinuation of SIPs has also increased since March 2020. The number of discontinued and completed SIPs stood at 7.87 lakh in October as against 6.02 lakh in March.
Ashutosh Bishnoi, MD & CEO Mahindra Manulife MF said that the MF industry has been witnessing a pick up in the new SIP registration. “Normalcy seems to be restored as many investors have increased their spending to pre-covid levels. In fact, over the last one month, we have received applications from many first time investors through SIPs, which tells us about the confidence of investors in MFs,” said Ashutosh.
Markets have moved up sharply in October which has attracted many investors to mutual funds through SIPs, said Mumbai MFD Sadashiv Phene. He said, “Covid-19 pandemic has taught people to save for emergency. This coupled with positive development on the economic front, market rally and festive season led to higher new SIP registrations.”
(SIP count in lakh)
|
Month |
No of new SIPs registered |
No of stopped/completed SIPs |
Net change |
|
Oct |
11.27 |
7.87 |
3.4 |
|
Sep |
10.41 |
7.29 |
3.12 |
|
Aug |
11.01 |
7.58 |
3.43 |
|
Jul |
11 |
7.16 |
3.84 |
|
Jun |
9.13 |
6.58 |
2.55 |
|
May |
8.08 |
6.52 |
1.56 |
|
Apr |
7.5 |
5.4 |
2.1 |
|
Mar |
8.49 |
6.02 |
2.47 |
