mumbai, Nov. 12 -- More investors discontinued their systematic investment plans (SIPs) than registered new ones in October, pushing the SIP stoppage ratio to 116%, its highest level since April 2025, according to data from the Association of Mutual Funds in India (Amfi). The SIP stoppage ratio measures the number of SIPs discontinued or whose tenure has ended against the number of new SIPs registered during a month. A ratio above 100% indicates that more SIPs were stopped than new ones started. In October, 5.9 million SIPs were either discontinued or completed their tenure, while 5.1 million new SIPs were registered. The stoppage ratio was 79% in September. The rise in SIP closures coincided with a broader slowdown in equity mutual fund inflows. Net inflows into equity schemes dropped 14% month-on-month to Rs.32,924 crore in October, the Amfi data showed. SIP contributions in October were at Rs.32,162 crore, a little below the Rs.32,490 crore recorded in September. A section of investors, particularly those who entered mutual funds over the last three to four years, may be stopping their SIPs due to disappointing returns, according to Manish Mehta, chief business officer at SBI Mutual Fund. "Interactions with do-it-yourself investors, especially those investing through fintech platforms, suggest that while new investors continue to register SIPs, existing investors are increasingly discontinuing them, resulting in net negative SIP flows from older investors," Mehta said. Feroze Azeez, joint CEO at Anand Rathi Wealth Limited, said, "the stoppage ratio is not necessarily a measure of investor pessimism. It also captures SIPs completing their tenure and can rise when fresh registrations moderate. Plus, SIP stoppages only measure the number of mandates, while SIP contributions measure the money investors continue to commit." Despite market volatility, SIP contributions in October were just 1% below September's record high, 8.9% higher year-on-year, and above Rs.32,000 crore for the third consecutive month, Azeez added. While recent SIP flows have moderated, the slowdown may prove temporary. A recovery in market indices by the end of October, alongside easing global oil prices, robust September-quarter company earnings, and a moderation in global uncertainties, has brightened the equity market outlook, which could boost confidence among investors and encourage them to continue investing, said Mehta....