The number of SIP accounts stood at the highest ever at 680.52 lakh for July 2023, compared to 665.37 lakh in June. Mutual fund folios in July reached an all-time high of 15,14,21,270 compared to 14,91,31,708 in June.
The retail MF folios that includes equity, hybrid, and solution oriented schemes also stood at an all-time high at 12,08,50,415 in July compared to 11,90,63,434 in June. The retail asset under management which includes equity, hybrid, and solution oriented schemes stood at Rs 24.17 lakh crores in July 2023, with an average asset under management of Rs 23.77 lakh crore.
The SIP AUM in July stood at Rs 8.32 lakh crore compared to Rs 7.93 lakh crore in June 2023.
Number of new SIPs registered in July 2023 was the highest at 33.06 lakh against 27.78 lakh in June.
“The surge in retail investors’ interest in mutual funds has translated into impressive inflows across scheme categories. The star performer this month has been Systematic Investment Plan (SIP), with an impressive 33,06,337 new SIP accounts registered and a record Rs 15,245 crore of monthly contribution. Moreover, the industry’s Assets Under Management (AUM) have grown by 25% YoY, underscoring mutual funds’ significance in financialization of savings,” said NS Venkatesh, CEO, Association of Mutual Funds in India (AMFI).“The substantial increase in SIPs is a result of mutual fund houses and AMFI’s widespread awareness campaigns, tapping into Bharat’s wealth and aspiration to partake in market growth. Investors in B30 cities are indirectly investing in stock markets via SIPs in Equity Mutual Funds,” he added.
