In the last financial year, the number of new systematic investment plans (SIPs) registered stood at 1.09 crore, down by around seven lakh against 1.16 crore seen in 2017-18.
Not only new SIPs declined, even number of SIPs discontinued increased to 58.75 lakh in 2018-19 compared to 34.83 lakh in the previous financial year. One of the reasons for fall in SIPs could be the weak performance of equity funds in the last one year, say market participants. According to data from Value Research, of a total 365 open-ended equity schemes, around 39% of the schemes has given negative returns in the last one year.
