News From Press 10 mn in 2016 to 5 mn accounts in just a month; MF industry grows in 8 yrs

10 mn in 2016 to 5 mn accounts in just a month; MF industry grows in 8 yrs

Source: BS Feb 12, 2024

The total number of active systematic investment plan (SIP) accounts stood at close to 10 million at the start of 2016. Eight years on, the mutual fund (MF) industry is adding 5 million accounts in just a month.

Moreover, the monthly contributions have grown over sixfold to Rs 18,800 crore, according to data from the Association of Mutual Funds in India (Amfi).

The assets under management linked to SIP accounts have surged 8.6x from Rs 1.2 trillion to Rs 10.3 trillion during this period.

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