The mutual fund industry recorded 5.9 million discontinued or matured SIP accounts in October against 5.1 million new registrations. Despite the jump from September's 79% stoppage ratio, total monthly SIP contributions stayed resilient above ₹32,000 crore for the third straight month. At the same time, investors reallocated capital toward safer assets, cutting mid-cap and small-cap inflows while driving a 98% surge into the large- and mid-cap fund category.
Key points
Total monthly SIP contributions remained robust by topping the ₹32,000 crore mark for the…: Total monthly SIP contributions remained robust by topping the ₹32,000 crore mark for the third consecutive month.
Investors noticeably rotated away from riskier investments, resulting in steep inflow dec…: Investors noticeably rotated away from riskier investments, resulting in steep inflow declines across mid-cap and small-cap funds.
Do-it-yourself fintech users facing disappointing recent returns were among the primary i…: Do-it-yourself fintech users facing disappointing recent returns were among the primary investors discontinuing their mutual fund commitments.
Sources checked by our analysis pipeline: 1
More investors discontinued their systematic investment plans (SIPs) than registered new ones in October, pushing the SIP stoppage ratio to 116%, its highest level since April 2025, according to data from the Association of Mutual Funds in India (Amfi).
The SIP stoppage ratio measures the number of SIPs discontinued or whose tenure has ended against the number of new SIPs registered during a month. A ratio above 100% indicates that more SIPs were stopped than new ones started.
In October, 5.9 million SIPs were either discontinued or completed their tenure, while 5.1 million new SIPs were registered. The stoppage ratio was 79% in September.
The rise in SIP closures coincided with a broader slowdown in equity mutual fund inflows. Net inflows into equity schemes dropped 14% month-on-month to ₹32,924 crore in October, the Amfi data showed. SIP contributions in October were at ₹32,162 crore, a little below the ₹32,490 crore recorded in September.
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