: Saturday, December 21, 2024 1:37 PM
Mumbai, . There has been a tremendous surge in SIP in India. According to a report, net inflows into Systematic Investment Plans (SIP) have increased by 233 percent (annual basis). This is because the Indian economy remains resilient despite difficult geopolitical circumstances.
According to the ICRA Analytics report, the total net inflows from January to November this year stood at Rs 9.14 lakh crore, while in 2023 it was Rs 2.74 lakh crore, showing an increase of 233 per cent.
The number of new SIPs registered at the end of November increased to 49.47 lakh, whereas in November 2023 it was 30.80 lakh.
According to the report, SIP Assets Under Management (AUM) stood at Rs 13.54 lakh crore in November, while it was Rs 9.31 lakh crore in 2023.
The Indian mutual fund (MF) industry witnessed over 135 per cent growth in net inflows and nearly 39 per cent growth in net AUM (assets under management) in the last one year.
The report said that the industry is likely to grow manifold in the coming years as India is in a good position in the global economy.
Ashwini Kumar, Senior Vice President and Head of Market Data, ICRA Analytics, said, “With the structural growth story of the Indian economy intact and India being a bright spot in the global economy, the domestic mutual fund industry is poised to grow manifold in the coming years. hopefully.”
Meanwhile, total inflows into the mutual fund industry increased by 135.38 per cent to Rs 60,295.30 crore in November 2024, compared to Rs 25,615.65 crore in November 2023.
Interestingly, the net AUM was Rs 49.05 lakh crore in November last year, which crossed the historic milestone to reach Rs 68.08 lakh crore in November this year.
While all funds in India witnessed strong growth, inflows into large cap funds under the equity category remained the highest, rising by nearly 731 per cent to Rs 2547.92 crore in November 2024, compared to Rs 306.70 crore in the same period last year.
“Large and mid-cap funds may become the center of attraction among investors in the coming days amid increasing volatility in domestic markets following rising geopolitical risks and global uncertainty,” Kumar said.
Small-cap and mid-cap funds, which have seen steady growth in their AUM, are likely to retain investor interest in the medium to long term.
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Web Title-Net inflows in SIPs increased by 233 per cent, mutual funds increased by 135 per cent
