SIP inflows hit record Rs 29,361 crore in September; stoppage ratio rises to 76.3%

Equity-oriented mutual funds recorded net inflows of Rs 30,422 crore in September, marking the second consecutive month of moderation after July’s record Rs 42,703 crore and August’s Rs 33,430 crore.

Systematic Investment Plan (SIP) inflows maintained a strong trajectory in September 2025, hitting a record Rs 29,361 crore, up from Rs 28,265 crore in August. During the month, the number of contributing SIP accounts reached 9.25 crore, compared with 8.99 crore in August, while SIP assets under management (AUM) climbed to Rs 15.52 lakh crore.

While SIP inflows reached an all time high, during September, according to AMFI data 57.73 lakh new SIP accounts were registered, while 44.03 lakh SIPs matured or were discontinued, resulting in a SIP stoppage ratio of 76.3%, up from 74% in August.

The SIP stoppage ratio, which measures the percentage of investors pausing or stopping their systematic investment plan contributions ( or whose plan tenures have matured), has seen significant fluctuations over the past two years. For much of 2024, the ratio stayed between 50–60%, indicating moderate SIP cancellations. However, in early 2025, the ratio spiked sharply, reaching 109% in January and peaking at 296% in April. A ratio above 100% means that more SIPs were stopped in that month than new SIPs started, signalling a period of unusually high investor caution, possibly due to market volatility or personal liquidity needs. After April, the ratio has gradually normalized, stabilizing around 56–76% from June to September 2025.

Outlook remains positive 

Equity-oriented mutual funds recorded net inflows of Rs 30,422 crore in September, marking the second consecutive month of moderation after July’s record Rs 42,703 crore and August’s Rs 33,430 crore.

“While the pace of inflows softened, the overall trend reflects sustained investor confidence in equities, supported by steady SIP contributions and retail participation,” said Nehal Meshram, Senior Analyst – Manager Research, Morningstar Investment Research India.

Similarly, Ankur Punj, MD & Business Head, Equirus Wealth, added, “Investors remained undeterred by intermittent volatility and global uncertainties. The moderation in monthly flows appears cyclical rather than structural, following exceptionally strong inflows in July and August.”

He noted that SIPs remain a strong driver of equity inflows, demonstrating faith in India’s long-term growth story. "Investors should balance portfolios through asset allocation, increasing exposure to hybrid, multi-asset, and large-cap funds while continuing SIPs as a disciplined, long-term strategy to manage volatility," he said.

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