Indian Mutual fund SIPs (systematic investment plans) reached Rs 3.24 lakh crore in Jan 2020:
To begin with, in Jan 2020, the AUM of Indian mutual fund companies SIPs reached Rs 3.24 lakh cr. As compared to the last month, the SIP fund gained Rs 7,846 cr as per the AMFI.
NS Venkatesh, AMFI CEO, announced, in the FY20, the SIPs net inflows reached at Rs 82,929 cr. Presently, the MF investors usually investing through the 3.03 cr SIP portfolios. In this Jan, nearly 12.07 lakh SIP portfolios entered into the mutual fund industry and 5.95 lakh of SIP accounts matured or closed.
As per the AMFI records, in the present financial year, in every with an average of 9.55 lakh SIP accounts entered into the MFI. Along with the SIP size of Rs 2,850 per account.
The multiple retail monthly SIP contribution is extremely identification of the retail investor’s mutual fund acceptance. Also, the fund managers saw growth in SIP AUM numbers by savvy investors.
The complete mutual fund industry AUM growth raised at 27.85 lakh cr compared to last month’s growth of 26.54 lakh cr. The retail investors continuing their investments via systematic investment plans.
Systematic Investment plan means the investment which was offered by the mutual funds. The investments through the periodical time intervals, in monthly, quarterly, half-yearly and annual installments.