SIP inflow hits Rs 25,000 crore for 1st time, equity fund inflows at record Rs 41,887 crore

Mumbai : The monthly systematic investment plan (SIP) inflow made a new all-time high in India at Rs 25,323 crore in October, from Rs 24,509 crore in September, according to the latest data from the Association of Mutual Funds in India (AMFI) on Monday.

The SIP inflow was recorded at Rs 16,928 crore in the same month last year.

The number of SIP accounts stood at its highest ever at 10.12 crore in October 2024. It was 9.87 crore in September. Net 24.19 lakh SIP accounts were added in the last month.

According to AMFI data, open-ended mutual funds performed well in October. This was the 44th consecutive month that inflows into equity mutual fund schemes have been positive. Open-ended equity mutual fund inflows surged 21.69 per cent on a month-on-month (MoM) basis to Rs 41,887 crore in October.

Last month, strong investment was recorded in all categories including smallcap, midcap, and largecap.

Inflows into the largecap fund category doubled on a monthly basis in October to Rs 3,452 crore. Net investment in the midcap fund category increased by 50 per cent on a monthly basis to Rs 4,683 crore. Inflows into the smallcap fund category surged by 23 per cent on a monthly basis to Rs 3,772 crore.

The increase in mutual fund inflows came at a time when the stock market performance remains weak.

Sensex and Nifty have fallen by 5.77 per cent and 6.22 per cent, respectively in October. Inflows into sectoral and thematic funds fell 7 per cent month-on-month to Rs 12,279 crore in October. Last month, new fund offers in the sectoral and thematic funds category raised Rs 3,517 crore. There was an inflow of Rs 1,57,402.30 crore in the fixed-income category, debt mutual funds.

The highest investment of Rs 83,863 crore was recorded in the short-duration liquid fund category in October. Overnight funds and Money market funds saw inflows of Rs 25,783 crore and Rs 25,303 crore, respectively in October.

According to Himanshu Srivastava from Morningstar Investment Research India, there was no stopping Indian investors from investing in equity-oriented mutual funds in October. "During the month, investors pumped in Rs 41,886.69 crore, which is the highest ever monthly net inflow into equity-oriented funds and a growth of 21.7 per cent from the net inflow of Rs 34,419 crore received in September," he said.