SIP Contribution Crossed Rs 13000 Crore Mark in October 2022

Systematic investment plan (SIP) contribution crossed Rs 13,000 crore mark in October, according to data released by the Association of Mutual Funds of India (AMFI).

The monthly data showed that SIP contribution of Rs 13,040.64 crore in October was more than Rs 12,976.34 crore in September.

Mutual fund folios crossed all-time high at 13,90,77,745 crore and retail mutual funds folios too were at an all-time high at 11,08,00,239 crore.

Mutual fund industry's net asset under management (AUM) was Rs 39,50,323.28 crore according to the AMFI data.

Number of SIP accounts stood at 5,93,30,069 in October, which were higher by 9,52,385 from September.

New SIPs registered for October 2022 were 19,72,984, the data revealed.