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Year-ender 2024: Mutual fund SIP contributions soar 34% to Rs 25,320 crore

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Surbhi Khanna

, ET OnlineLast Updated: Dec 27, 2024, 09:43:00 AM IST

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Mutual fund SIP contributions rose by 34% in 2024, reaching Rs 25,320 crore in November, up from Rs 18,838 crore in January. The SIP asset base increased by 32% to Rs 13.54 lakh crore. The average SIP ticket size grew by 4%, reaching Rs 2,476. November's gross SIP inflows were near an all-time high, marking continued strong inflows.

Year-ender 2024: Mutual fund SIP contributions soar 34% to Rs 25,320 crore — New SIP registrations for the month were 49.5 lakh, down 23.5% from the three-month average.

The mutual fund SIP contribution has increased by 34% in 2024, reaching Rs 25,320 crore in November, up from Rs 18,838 crore in January. The asset base for SIPs rose by 32% to Rs 13.54 lakh crore in November, compared to Rs 10.26 lakh crore in January.

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The average ticket size has increased by 4% during this period, rising from Rs 2,379 in January to Rs 2,476 in November.

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According to a report by Geojit Insights, gross SIP inflows in November are near an all-time high, up 3.5% from the three-month average. It marks the eighth consecutive month of inflows above Rs 20,000 crore and the 17th consecutive month of inflows above Rs 15,000 crore. The average SIP size is estimated at Rs 2,476 per SIP, up 7.9% YoY.

The SIP AUM now stands at Rs 13.54 lakh crore, the second highest, up 45.4% YoY. SIP AUM accounts for 19.9% of the total AUM and 35.0% of open-ended equity-oriented AUM, according to the report.

The number of new SIPs registered in the current calendar year decreased by nearly 5%, reaching 49.46 lakh in November, compared to 51.84 lakh at the start of the year. The number of SIP accounts registered in 2024 increased by nearly 29%. The total number of SIP accounts registered in January was 7.91 crore, which surged to 10.22 crore in November.

According to the report, new SIP registrations for the month were 49.5 lakh, down 23.5% from the three-month average. SIP discontinuations stood at 39.1 lakh, up 1.5% from the three-month average, resulting in a net SIP addition of 10.3 lakh, down 60.5% from the three-month average.

The report highlighted that SIP accounts crossed the 10 crore mark in October and further grew to 10.23 crore, a new high, up 3.6% from the three-month average. Active SIP accounts increased by around 2.79 crore year-on-year, marking a 37.4% rise.

The retail mutual fund folios, which include equity, hybrid, and solution-oriented schemes, increased by approximately 3% in the current calendar year. The total number of mutual fund folios in November was recorded at 17.54 crore, compared to 16.95 crore in January.

The retail AUM (Equity, Hybrid, and Solution-Oriented Schemes) stood at Rs 39.70 crore in November, compared to Rs 29.88 crore in January.

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According to a report by Geojit Insights, the SIP cancellation ratio in November rose to 79.1%, compared to 45.9% in January.

Looking at the overall mutual fund data, the assets under management (AUM) of open-ended mutual funds have increased by nearly 29% in 2024, from Rs 52.44 lakh crore in January to Rs 67.81 lakh crore in November (the most recent data), with equity mutual funds taking the lead.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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