The number of SIP accounts stood at the highest ever at 696.85 lakh for August 2023, compared to 680.53 lakh in July. The number of mutual fund folios in August also reached an all-time high of 15,42,41,577 compared to 15,14,21,270 in July.
The retail mutual fund folios that includes equity, hybrid, and solution-oriented schemes also stood at an all-time high at 12,30,07,367 in August ,compared to 12,08,50,415 in July. The retail asset under management which includes equity, hybrid, and solution oriented schemes stood at Rs 24.63 lakh crores in August 2023, with an average asset under management of Rs 24.38 lakh crore.
The SIP AUM in August stood at Rs 8.47 lakh crore, compared to Rs 8.32 lakh crore in July.
Number of new SIPs registered in August 2023 was the highest ever at 35.91 lakh against 33.06 lakh in July.
“It is very heartening to see that Indian retail investors continue to invest in the equity markets via the Mutual Fund route, especially through SIP mode. The record SIP contribution of Rs 15,813.54 crores is a testimony of the Indian Investors long term approach to building wealth by investing through small ticket sized SIPs,” said NS Venkatesh, CEO, Association of Mutual Funds in India (AMFI).“The industry continues to work towards the aim of achieving Rs 100 Trillion in AUM over the next few years and we are almost halfway there already,” added NS Venkatesh.
