According to the latest data released by the Association of Mutual Funds in India (AMFI), the total AUM of mutual funds climbed by 6% to Rs 64.69 lakh crore in July from Rs 60.89 lakh crore in June.

SIP inflows witnessed an impressive 10% growth, surpassing the Rs 23,000 crore mark for the first time ever. The figures reveal that monthly SIPs surged from Rs 21,262 crore in June to Rs 23,332 crore in July.

Moreover, the number of new SIPs registered in July 2024 stood at a robust 72.62 lakh, compared to 55.13 lakh in June. SIP AUM also scaled new heights, reaching Rs 13,09,385 crore in July from Rs 12.43 crore in June.

The number of SIP accounts too has been steadily increasing, with a record-high of 9,33,96,174 SIP accounts in July compared to 8,98,66,962 in June.

These figures underscore the growing investor confidence in mutual funds and the popularity of SIPs as a preferred investment avenue.

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