News From Press Direct plan SIPs bounce back in 2023 on the equity market euphoria

Direct plan SIPs bounce back in 2023 on the equity market euphoria

Source: Business Standard Jan 30, 2024

Direct plan mutual fund (MF) platforms re-entered the high growth path in 2023 after a tepid 2022, propelled by the sharp rally in the equity market. In calendar year (CY) 2023, direct plans added 12.4 million systematic investment plan (SIP) accounts, 39 per cent higher than the additions seen in the previous year. The sharp surge comes after the 2022 blip when registrations grew only 4.5 per cent and even lagged behind the traditional regular plans.

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