SIP investment in mutual funds at new all-time high!
Investment made in Mutual Fund through Systematic Investment Plan (SIP) has reached a new all-time high in october 2024. In october, the figure of SIP investment has crossed the figure of Rs 25000 crore and stood at Rs 25323 crore, which was Rs 24,509 crore in september 2024. Whereas a year ago in october 2023, SIP investment in mutual funds was Rs 16,928 crore.
Amfi (Association of Mutual Funds in India), an organization of asset management companies running mutual funds, has released the data of investment in mutual funds for october 2024. According to this data, inflow in equity mutual funds in the month of october has been Rs 41,887 crore with a jump of 21.69 percent. This is the 44th consecutive month when investment in equity mutual funds has been in the positive zone. There has been a strong investment in funds of all three segments, large-cap, mid-cap and small-cap.
According to AMFI, there has been an inflow of Rs 3452 crore in large-cap funds, Rs 4883 crore in mid-cap funds and Rs 3772 crore in small-cap funds. In october, the highest investment of Rs 16863.3 crore has come in hybrid funds, which was Rs 4901 crore in the previous month. Investment in sectoral and thematic funds has decreased marginally and an investment of Rs 12,278 crore has come in october as compared to Rs 13255 crore in September. The asset under management of all mutual funds stood at Rs 67.25 lakh crore in october 2024 as against Rs 67.09 crore in september 2024.
On the AMFI data on equity mutual funds, akhil Chaturvedi, Executive director and Chief business Officer, Motilal oswal AMC, said, equity inflows remain stable near the figure of Rs 40000 crore. He said, due to the US elections and other major global events, the market is witnessing volatility due to selling by foreign investors. Despite this, the jump in net inflows proves the confidence in domestic investors who are continuously investing in equity despite this volatility.