Mutual Fund SIP Investment Touches All-time High Of 20904 Crore Rupees In May 2024

Mutual Fund SIP Data: Investment in mutual funds through Systematic Investment Plan (SIP) has once again reached a historic high in May 2024. A total investment of Rs 20,904.37 crore has come through Systematic Investment Plan in May, which was Rs 20371.47 crore in April 2024. This is the second consecutive month when an investment of more than Rs 20,000 crore has come through SIP in a month and now the figure of 21,000 crore is also on the verge of breaking.

Record SIP investment in May

According to the data of the Association of Mutual Funds, AMFI, an investment of Rs 20,904.37 crore has come through SIP (Systematic Investment Plan) in May 2024, whereas a year ago in the same month of May 2023, an investment of Rs 14,749 crore came through SIP. In May 2024, the number of SIP accounts of mutual funds has reached 8,75,89,485. 49,74,400 new SIP accounts have been opened in May 2024.

For the first time, investment of more than 30,000 crores

According to the data of AMFI, the asset under management (AUM) of mutual SIP has reached Rs 11,52,801 crore, whereas in April 2024 the AUM was Rs 11,26,129 crore. At the same time, according to the data, in the month of May, equity mutual funds have seen a jump of 83.42 percent with a total investment of Rs 34,697 crore, whereas in the month of April there was a decline of 16 percent in investment. This is the first time that more than Rs 30,000 crore has been invested in equity mutual funds in a single month. The previous record is of March 2022 when an investment of Rs 28,463 crore came.

Increased inclination towards investing for the long term

On the excellent figures of investment in equity mutual funds and SIP, Pankaj Shrestha, Head of Investment Services, Prabhudas Lilladher Group, said, there has been a strong equity inflow of Rs 34,697 crore in May 2024, which is 83.42 percent more and a positive trend has been seen in inflows for 39 consecutive months. He said that the biggest contribution has come from sector and thematic categories, in which HDFC Manufacturing Fund's NFO has raised Rs 9500 crore. Pankaj Shrestha said, touching the record of SIP contribution reflects the growing trend of disciplined, long-term investment among investors.

Akhil Chaturvedi, Executive Director and Chief Business Officer, Motilal Oswal AMC, said on the AMFI data, the record-breaking investment by investors in equity mutual funds in May indicates a strategic inclination towards investing in growth opportunities. He said that this increase has come due to heavy investment in small cap and midcap segments along with sectoral, thematic funds. This shows the growing confidence of investors towards the growth of specific sectors and small companies.

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