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The MF industry has set a new record by receiving highest monthly SIP contribution of Rs.13,041 crore in October 2022. Last month, the industry was slightly short of Rs.13,000 mark at Rs.12,976 crore, shows the latest AMFI data.
Between April-Oct, the industry has received SIP inflows of Rs.87,300 crore, which is 30% higher than the last year. The industry received SIP inflows of Rs.67,000 crore in April-Oct 2021.
Currently, the industry has Rs.5.93 crore SIP accounts. Also, it contributes 16% to the total MF assets. Of the total industry assets of Rs.40 lakh crore, SIP AUM accounts for Rs.6.64 lakh crore in October 2022.
Another good news for the industry is reduction in number of SIP discontinuation. The discontinuation in SIPs decreased to 10.20 lakh in October 2022 from 10.53 lakh in April 2022.
On the contrary, the number of new SIP registrations have witnessed a decline. The number of new SIP new registrations decreased to 20 lakh in October from 22 lakh in April.
