The number of new SIPs (systematic investment plans) registered in October stood at 9.35 lakh \u2014 the slowest addition in six months. Between May and September, 10 lakh new SIPs were added every month, contributing to the assets of mutual funds. However, in October, the numbers have slipped slightly. A senior executive from the leading fund house said while equity markets saw a sharp correction in September and October, inflows into equity and contribution through SIPs remained strong. \u201cHowever, we saw a decline in the number of new SIPs registered. If the weakness in the markets persists, more SIPs may be discontinued because investors are upset with the negative returns,\u201d the executive explained. In terms of value, the contribution of SIPs, however, continues to rise. Data from Association of Mutual Funds in India (Amfi) show the total SIP contribution between April and October at Rs 52,472 crore. Fund managers are somewhat anxious about a slowdown in SIPs if equity markets continue to remain volatile or go down further from current levels. While the benchmark indices have performed well in 2018 so far the broader market has under-performed with around 70% of stocks with a market capitalisation of Rs 1,000 crore and more having lost value. Although the number is very small, some investors have discontinued their SIPs; in the current financial year around 32.87 lakh SIPs have been stopped. The total assets under management (AUM) of SIPs as on October stands at Rs 2.17 lakh crore. In September, 10.64 lakh new SIPs were registered which went down to 9.35 lakh on October, data from Amfi showed. SIPs are an investment plan offered by fund houses wherein investors can invest a fixed amount in a mutual fund scheme periodically at fixed intervals \u2014 say once a month instead of making a lump-sum investment. SIPs are similar to a recurring deposit where you deposit a small or fixed amount every month. In the past three-four years, there has been a surge in SIPs as equity markets touched a new high. In FY16-17 total SIP contribution was Rs 43,921 crore, while it increased to Rs 67,190 crore in FY17-18, data show. But investments through lumpsum have been slowing down in the last few months. In October, equity mutual funds (which include, equity, ELSS and arbitrage funds) saw inflows of Rs 14,783 crore, the highest since February 2018. But the average monthly inflows into equity schemes in the first seven months fell to Rs 10,751 crore from Rs 14,200 crore in 2017-18. The overall MF industry saw inflows of Rs 35,529 crore in October, Amfi data showed. In the past one year, Nifty Midcap index and Nifty Smallcap index have given negative returns of 12% and 27%, respectively. The average return of Midcap funds is -8.47%, while that of Small cap schemes is -13.2% in the last one year, show data from Value Research.