SIP inflows surge to record `29,529 cr in October

Mumbai: The systematic investment plan (SIP) inflow in October registered a month-on-month (MoM) growth to reach an all-time high of Rs29,529 crore compared to Rs29,361 crore in September, data from the Association of Mutual Funds in India (AMFI) showed on Tuesday.

Despite volatility in the domestic equity market during the month, the steady growth in SIP in the month reflects the strong retail participation, which led the mutual fund industry’s total assets under management (AUM) to increase to Rs79.87 lakh crore from Rs75.61 lakh crore a month earlier. SIP AUM stood at Rs16,25,304.94 crore for the month of October -- 20.3 per cent of the total mutual fund industry’s assets.

“Continued SIP inflow remains the most encouraging strength, holding steady at around Rs 29,500 crore. This underlines the maturity and resilience of retail investors, who are staying disciplined with their long-term wealth creation goals despite short-term market fluctuations,” said Suranjana Borthakur, Mirae Asset Investment Managers (India).