75,000: The number of new registrations for systematic investment plans (SIPs) fell to a 13-month low of 75,000 in April 2020.
- This was an 11% drop from the number of new registrations in March
- The SIP closure ratio — closure requests as a proportion of new registrations — spiked to 72% from 70% the previous month
- While a weak investment environment in view of the coronavirus crisis persisted, April saw 540,000 SIP closure requests
- SIP contributions across India in April stood at 8,376 crore — 3% lower than the previous month.
- However, even as new registrations fell, closures in April also declined from over 600,000 in March. This was seen as a positive sign by many.
Disclaimer: This information is from a third party—Business Standard—offered through a tie-up to Kotak Securities customers. Click here for complete disclaimer.
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