New SIP registrations down 16% sequentially in April on Covid impact

Industry participants say that distributors have been facing difficulty to reach out to newer clients particularly in the rural areas

equity, mf, mutual funds, cash, outflow, stocks, shares, investment

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At the same time, tech savvy urban investors continue to do online purchases

Chirag Madia Mumbai

2 min read Last Updated : May 15 2021 | 12:11 AM IST

The second wave of Covid-19 has impacted the sales of new systematic investment plans (SIPs). In April around 1.40 million new SIPs were registered by the Mutual Fund (MF) industry, down by almost 16 per cent compared to March 2021.

Industry participants say that distributors have been facing difficulty to reach out to newer clients particularly in the rural areas due to the Covid-19 pandemic. At the same time, tech savvy urban investors continue to do online purchases. In March, 1.67 million new SIPs were registered which was the highest for the financial year 2020-21.

“The new account opening of

Topics : Coronavirus SIP investment SIP Mutual funds

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