News From Press New SIP registrations surged 90% in FY22, says report

New SIP registrations surged 90% in FY22, says report

Source: Mint Jul 28, 2022

The number of registrations for new systematic investment plans (SIP) in mutual fund schemes surged nearly 90% to 2.66 crore by the end of the financial year 2022, according to a report by IDFC Mutual Fund.

Highlighting how retail investors trust small regular investments, the report showed that SIP retention improved from 39% in FY21 to 58% in FY22. The data showed that 1.41 crore SIP accounts were opened in FY2020-21 while 0.86 crore accounts ceased or matured.

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