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SIP registrations picked pace in FY 2022 but this pace was not equal across the nation. The western and eastern regions recorded a higher year-on-year growth in SIP registrations than the southern and northern parts, shows a report by IDFC MF.
|
Zone |
FY 2020-2021 |
FY 2021-2022 |
Growth (%) |
|
East |
20,13,221 |
41,21,991 |
105 |
|
North |
32,30,894 |
61,88,583 |
92 |
|
South |
24,39,395 |
43,82,530 |
80 |
|
West |
41,58,821 |
84,48,511 |
103 |
|
Grand Total |
1,18,42,331 |
2,31,41,615 |
95 |
As a result, west accounted for 36% of the total new SIP registrations in FY 2022 compared to 35% in FY 2021. Similarly, the share of east has gone up to 18% from 17%. The increase in their share came at the cost of south, which recorded a decrease in share.
The folio addition data also reflects a similar story. Individual MFDs from east registered the highest growth in live folio count followed by west.
Region-wise growth in live folio count of MFDs:
|
East |
West |
North |
South |
|
|
FY 2022 |
64 |
140 |
83 |
56 |
|
FY 2021 |
52 |
121 |
72 |
49 |
|
Growth (%) |
23 |
16 |
15 |
14 |
*in lakh
Overall, individual MFDs and NDs were the key players behind the record SIP registrations in FY 2022. While MFDs registered a 107% rise in new SIP registrations, fintechs and RIAs witnessed a growth of 120%.
