Mumbai, Nov 11 || The monthly systematic investment plan (SIP) inflow made a new all-time high in India at Rs 25,323 crore in October, from Rs 24,509 crore in September, according to the latest data from the Association of Mutual Funds in India (AMFI) on Monday.
The SIP inflow was recorded at Rs 16,928 crore in the same month last year.
The number of SIP accounts stood at its highest ever at 10.12 crore in October 2024. It was 9.87 crore in September. Net 24.19 lakh SIP accounts were added in the last month.
According to AMFI data, open-ended mutual funds performed well in October. This was the 44th consecutive month that inflows into equity mutual fund schemes have been positive. Open-ended equity mutual fund inflows surged 21.69 per cent on a month-on-month (MoM) basis to Rs 41,887 crore in October.
Last month, strong investment was recorded in all categories including smallcap, midcap, and largecap.
Inflows into the largecap fund category doubled on a monthly basis in October to Rs 3,452 crore. Net investment in the midcap fund category increased by 50 per cent on a monthly basis to Rs 4,683 crore. Inflows into the smallcap fund category surged by 23 per cent on a monthly basis to Rs 3,772 crore.
The increase in mutual fund inflows came at a time when the stock market performance remains weak.