Equity euphoria triggered 15 million SIP additions last year, shows data

Elevated MF returns, preference for SIPs led to net additions of 15 mn accounts

Mutual funds (MFs) added systematic investment plan (SIP) accounts at a record pace in 2023 with the net additions in the calendar year surpassing 15 million — 24 per cent higher than the 2022 tally of 12.2 million, according to data from the Association of Mutual Funds in India (Amfi).

MF officials and distributors attribute the surge in SIPs to the elevated returns of equity schemes amid a continued rally in stock prices.

The benchmark Sensex and the Nifty50 ended the year with gains of 18.7 per cent and 20 per cent, respectively, while the midcap and smallcap indices registered