For April, closures dropped 10 per cent to 540,000. Industry participants say easing in closures is a positive sign. “Given the uncertainty in the markets, some investors are waiting on the sidelines, which has led to a lower number of new registrations,” said an executive of a fund house.
“We will have to see how these numbers move in the coming months, as lockdown conditions have taken a toll on the monthly income of clients,” said an MF advisor. The SIP contribution in April stood at Rs 8,376 crore, 3 per cent lower than the previous month.