The average portfolio value SIP investors also reached a record high of ₹1.4 lakh, further boosting retail investors‘ trust in actions.
The increase in average ticket size is accompanied by a rise in net additions to SIP accounts, implying that new investors are investing more through SIPs than existing ones. Net additions to SIP accounts rose to a new high of 3.52 million in July, nearly 2.5 times higher than the average of the past two years. The total number of SIP accounts reached 93 million, while total assets under management (AUM) of funds linked to SIP accounts reached Rs 13.1 lakh crore or one-fifth of the total. AUM of mutual funds in India.
Monthly SIP inflows reached ₹23,332 crore in July, contributing to a 12-month cumulative inflow of ₹2.3 lakh crore, also a record.
SIP’s portfolio grew 10% month-on-month, marking the fastest growth in 40 months.
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