Placeholder canvas

INR 6222 crore poured in Mutual Funds through SIP in December 2017

Date:

In what could prove to be a sign of growing popularity for SIP and Mutual funds, retail investors poured a record Rs 6222 crore through systematic investment plan (SIPs) into mutual funds in December 2017. This is the highest amount mobilized in a single month and Rs 329 crore higher than Rs 5893 mobilised in November.

Cumulatively mutual funds mobilized Rs 59,482 crore through SIPs in calendar year 2017 as compared to Rs 40,000 crore in the previous year, a rise of 50%, as per data from industry body AMFI. Mutual Funds have currently about 1.80 crore (18 million) SIP accounts through which investors regularly invest in Indian Mutual Fund schemes.

SIP is an investment plan offered by Mutual Funds wherein one could invest a fixed amount in a mutual fund Scheme periodically at fixed intervals – say once a month instead of making a lump-sum investment.

The SIP installment amount could be as small as Rs500 per month with no cap on upper limit. SIP has been gaining popularity among Indian MF investors, as it helps in Rupee Cost Averaging and also in investing in a disciplined manner without worrying about market volatility and timing the market.

AMFI data shows that the MF industry had added about 9.26 lacs SIP accounts each month on an average during the financial year, with an average SIP size of about Rs 3,300 per SIP account.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

Gangster-Turned-Politician Mukhtar Ansari Dies Of Cardiac Arrest

Banda: Gangster turned politician Mukhtar Ansari passed away at...

IPL 2024: Rajasthan Royals Defeat Delhi Capitals By 12 Runs

Jaipur: Rajasthan Royals clinched a 12-run win over Delhi...

FTX Founder Sam Bankman-Fried Sentenced To 25 Years In Prison For Fraud

New Delhi: Sam Bankman-Fried, the renowned founder of cryptocurrency...