MUMBAI: There has been a massive 233 per cent growth (year-on-year) in overall net inflows in systematic investment plans (SIPs) in India this year, according to a new report, as the Indian economy remains resilient amid rough geo-political conditions.
Overall net inflows stood at Rs 9.14 lakh crore from January to November this year, as against Rs. 2.74 lakh crore in 2023 which tantamount to a growth of 233 per cent, according to the report by ICRA Analytics.
Number of new SIPs registered increased to 49.47 lakh at the end of November, as against 30.80 lakh in November 2023.
Moreover, SIP asset under management (AUM) stood at Rs 13.54 lakh crore in November, as against Rs. 9.31 lakh crore in 2023, said the report.
Indian mutual fund (MF) industry witnessed over 135 per cent surge in net inflows and nearly 39 per cent growth in net AUM (Assets under Management) over the last one year, the report said, adding that the industry is likely to witness a multi-fold growth in the coming years with India being in a bright spot in the global economy.
