As many as 57.5 lakh SIPs (systematic investment plans) were closed in the month of February as investor sentiment remained under pressure due to sustained sell-offs in the equity market. The number of new SIPs registered during the month stood at 44.56 lakh, which pushed the SIP closure ratio to 122 for February against 109 in January, AMFI data showed.
In January, 61.33 lakh investors preferred to stop their SIPs against new registrations of 56.19 lakh new accounts, showing an SIP closure ratio of 109, according to the AMFI data released on March 12.
With 54.7 lakh SIP accounts closed in February, more investors preferred to stop their SIP investments than registering new ones for the second straight month.
In the previous month (December 2024), the number of new SIP registrations, 54.27 lakh, exceeded the number of accounts closed at 44.91.
In terms of volume, SIP inflows fell to a three-month low of Rs 25,999 crore in February from Rs 26,400 crore in January. In December, total SIP inflows stood at Rs 26,459 crore.
With this, the number of contributing SIP accounts now stands at 8.26 crore at the end of February.
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