Mutual Fund SIPs Experience Record Growth in October 2024
Mutual Fund SIPs Experience Record Growth in October 2024
The month of October 2024 has marked a monumental achievement for mutual fund SIP investment, with total monthly inflows surpassing Rs 25,000 crore for the very first time. According to the Association of Mutual Funds in India (AMFI), SIP contributions reached an all-time high of Rs 25,323 crore, compared to Rs 24,509 crore in September. A year earlier, inflows stood at just Rs 16,928 crore, emphasizing a significant upward trend.
Strong Demand Across Asset Classes
This impressive increase can be attributed to strong flows across multiple categories, especially in equity mutual funds, which saw record inflows of Rs 41,887 crore in October. The demand for SIPs has surged despite the volatile stock market, highlighting the resilience and attractiveness of mutual fund investments.
- 44 consecutive months of net inflows in equity-oriented funds.
- Investors have shown a preference for hybrid funds amidst equity market volatility.
Market Sentiment and Future Outlook
Despite foreign portfolio investors pulling out Rs 94,000 crore in October, mutual funds showcased remarkable inflows, fueled by strong investments into debt schemes and thematic funds. The total industry AUM grew, reflecting investor confidence in India's financial markets.
Investment in the mutual fund sector is witnessing a notable paradigm shift as Indian investors embrace systematic and consistent SIP contributions, paving the way for a robust investment landscape.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.