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SIP additions at a six-month high amid rising churn

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SIP additions at a six-month high amid rising churn
ET Intelligence Group: Even as net additions to systematic investment planning (SIP) accounts touched a six month high in August, the year-on-year rate of increase remained volatile amid a higher pace of SIP discontinuations. The number of discontinued SIPs, though lower than fresh additions, rose at a faster rate for the fourth consecutive month in August, according to the data from Association of Mutual Funds in India (AMFI). Discontinued SIPs rose 31% year-on-year compared with a 20% increase in new SIP registrations. As many as 53.8 lakh SIPs were either discontinued or matured in August, against 66.4 lakh new SIP registrations. In the first five months of the current fiscal, a total of 2.9 crore new SIPs were registered, while 2.6 crore SIPs were discontinued or matured.
SIP additions at a six-month high amid rising churn<br>ET Bureau

The growth in contributing SIP accounts has also moderated, suggesting that rising discontinuations are beginning to offset a part of fresh additions. Contributing SIP accounts do not include folios that paused investments for the month. After declining marginally by 85,000 in May, contributing SIP accounts increased by 14.2 lakh in June, but the incremental addition fell to 11.9 lakh in July and further to 11.6 lakh in August. Contributing accounts reached 10 crore in August, up from 9.9 crore in July.
Read more: JioBlackRock CIO Rishi Kohli decodes Nifty’s inflection point after two years of weak returns

Monthly net SIP account additions have increased since May after falling by nearly 58,000 in April. Net additions rose to 12.6 lakh in August from 11.1 lakh in July, 4.9 lakh in June and 2.5 lakh in May.

Read more: Will Nifty extend gains to 4th session on Monday? US sanctions on Russia among factors to decide D-Street action


Net SIP inflow rose 21% year-on-year to ₹32,297 crore in August. SIP inflow has remained in the ₹31,000-32,000 crore range in FY27 so far. Total SIP inflow reached ₹1.6 lakh crore during April-August, implying a year-on-year increase of 15%.

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Gift Nifty 50 tests 23,511 resistance in bear flag: Live levels

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Zillow’s Business Model Should Prove Difficult To Sustain (NASDAQ:Z)

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View of for sale sign in front of a house.

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Markets rise and fall, booms come and go, and the world keeps ticking. Ultimately, I believe observing megatrends, as difficult as they can be to spot, let alone fully comprehend, can yield insights into the advance of human society, which in turn could pave the way for many useful investment insights. As society and technologies evolve, companies and other stakeholders will seize advantages. Figuring out which companies will take the best advantage of any given opportunities is not easy. I am especially interested in macrotrends, futurism, and increasingly, emerging technologies. However, as far as investing is concerned, it’s crucial to pay attention to the fundamentals, quality of leadership, product pipeline, and all the other details. In recent years, I have focused on marketing and business strategy, primarily for medium-sized companies and startups. I have worked in international development, including overseas for a foreign Prime Minister’s office, as well as non-profit work in the United States. Among other tasks, I evaluated startups and emerging industries/technologies. I have also moonlighted as a technology and economic news journalist. Now I’m looking to tie everything together. While my personal interests will always keep megatrends and technological developments in mind, I do believe fundamentals and technicals are vital to uncovering opportunities.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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UK should ‘team up’ with Canada in new Europe alliance, Canadian minister says

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Champagne wears a suit and tie while he stands on a lawn in front of the Toronto city skyline of high-rise buildings.

The UK should “team up” with a proposed economic alliance between Canada and Europe, Canadian Finance Minister François-Philippe Champagne has said.

“This is all about the substance, to build an alliance of the future,” he told the BBC. “The world has changed. America has changed. So we need to change.”

Champagne also gave a frank assessment of the Canada-US trade war after a deal collapsed last month, saying the country had “stood up for our industries, our workers, our country” by imposing tariffs.

His comments come after European Commission President Ursula von der Leyen proposed “opening the door” to an associate EU membership for Canada, an unprecedented move for the bloc.

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Canadian Prime Minister Mark Carney’s visit to address the European Union in Strasbourg, shortly after von der Leyen’s proposal was made, was “to build the alliance of the future”, Champagne said.

Carney, the former Governor of the Bank of England, has previously talked about an alliance of “middle powers” working together on economic growth, resilience and security.

Speaking to the BBC, Champagne said the UK and Canada had shared values.

“We need to look at partnership in a different way, and the great thing is that when you look at Canada, and I would say the United Kingdom, we share the same values. We are very aligned in our vision of the world. Why don’t we team up?” he said.

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“We are independent and sovereign, but we are stronger together.”

After his return to the White House last year, US President Donald Trump imposed sweeping global tariffs, including on long-standing trade allies such as the UK.

While the UK renegotiated a trade deal with the US in June last year, the new Canada-EU alliance does raise questions for the UK’s post Brexit positioning with Europe, as well as its position with the US, after some changes of presidential rhetoric over the Falklands and Irish unity in recent weeks.

Carney met Prime Minister Andy Burnham in Liverpool in the middle of his trip to Brussels and Strasbourg last week, while Champagne attended a meeting of EU finance ministers in Dublin on Friday, alongside the Chancellor John Healey.

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ASIC sues former Super Retail Group chief Heraghty

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ASIC sues former Super Retail Group chief Heraghty

The former boss of Super Retail Group, the parent company of Supercheap Auto, BCF and Rebel Sport, is being sued by ASIC over an undisclosed relationship with a senior executive.

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Block: The AI Layoff Bet Is Paying Off, But Insiders Aren't Buying It

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The Eurozone Crisis Deepens As Greece Attempts To Avoid Bankruptcy

Block: The AI Layoff Bet Is Paying Off, But Insiders Aren't Buying It

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Asia stocks climb, tech shares lead gains ahead of Trump-Xi summit

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Asia stocks climb, tech shares lead gains ahead of Trump-Xi summit

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Rock art damage complaint goes to UN rights council

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Rock art damage complaint goes to UN rights council

A traditional custodian will tell the UN Human Rights Council the federal government is allowing ongoing industrial damage to world-heritage-listed rock art.

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Xi rolls into Trump summit with China’s trade engine roaring

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Xi rolls into Trump summit with China’s trade engine roaring

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China slows humanoid robot IPO rush as hype outruns reality

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China slows humanoid robot IPO rush as hype outruns reality

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Wildcat taps investors for $60m

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Wildcat taps investors for $60m

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