SIP investment in mutual funds reaches all-time high, investment of Rs 20,904 crore came in May 2024
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 Association of Mutual Funds AMFI, an investment of Rs 20,904.37 crore has come through SIP 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.
Investment of more than 30,000 crores for the first time
According to the data of AMFI, the asset under management (AUM) of mutual SIP has reached Rs 11,52,801 crore, while 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 and a total investment of Rs 34,697 crore, while 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.
