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SIP net additions fell to six-month low in Nov
Business Standard
|December 12, 2024
Experts cite festival holidays and wedding season as reason for dip
The systematic investment plan (SIP) account additions declined for the fourth month in a row in November, after reaching a record high of 3.5 million in July 2024. At 1.03 million, the net additions last month were the lowest in six months. In October, the industry had added nearly 2.5 million accounts.
Data from the Association of Mutual Funds in India shows that the decline in net additions was largely due to a sharp fall in new registrations.
In November, investors opened 1.03 million new accounts, down from 6.4 million in October.
"The new SIP registrations have declined, but there has been no increase in stoppages compared to previous months," said Aashish Somaiyaa, chief executive officer of WhiteOak Capital Asset Management Company.
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