News From Press Smart money's new playground: SIPs close to hitting 100 million sweet spot

Smart money's new playground: SIPs close to hitting 100 million sweet spot

Source: BS Sep 23, 2024

The number of active systematic investment plan (SIP) accounts in mutual funds (MFs) is nearing the 100 million milestone, driven by a bull run in the equity market and a rush of new fund offerings (NFOs) that boosted account additions in calendar year (CY) 2024.

In the first eight months of the year, MFs added 19.7 million accounts, compared to 15.1 million for the entirety of CY 2023.

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