Mumbai: Mutual fund investors invested Rs 21,262 crore in systematic investment plans (SIPs) in June. This is higher than the Rs 20,904 crore in May. Data released by the Association of Mutual Funds of India (Amfi) showed this.
‘The overall assets under management (AUM) from SIPs grew to Rs 12.43 lakh crore, which can be attributed to both the mark-to-market growth due to the surge in market and also to the new inflows,’ Venkat Chalasani, CEO, Amfi, said.
Also Read: State government waives off road tax for hybrid, plug-in hybrid and electric cars
A total of 55 lakh new SIPs were registered in June, taking the total number of SIPs to 8.98 crore. During the same period, 32.35 lakh SIPs matured or were shut down. The overall assets under management (AUM) from SIPs rose to Rs 12.43 lakh crore. The overall AUM of the MF industry stood at over Rs 61.33 lakh crore as of June.
A SIP is a popular method for investing in mutual funds. It allows one to invest a fixed amount of money regularly, like monthly or quarterly, instead of requiring a large lump sum investment upfront. SIPs can be started for as little as Rs. 500 per month.
The Association of Mutual Funds in India (AMFI) is a non-profit organization that serves as the regulatory body for the mutual fund industry in India. AMFI provides investor education and awareness programs to help people understand mutual funds and SIPs.
Post Your Comments