Mumbai: The inflow into systematic investment plans (SIPs) in the country crossed Rs 25,000 crore mark for the second consecutive month in November. The mutual fund SIP investment stood at Rs 25,320 crore in November this year. It was at Rs 25,323 crore in October. Data from the Association for Mutual Funds in India (AMFI) showed this.
According to the data, last month, the mutual fund industry’s total assets under management (AUM) increased to over Rs 68 lakh crore from over Rs 67 lakh crore in October.
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.
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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.
Equity-linked Savings Schemes (ELSS) saw an increase in inflows, rising to over Rs 618 crore in November from Rs 362 crore in October. The small-cap funds experienced a nine per cent increase, rising to Rs 4,112 crore. Mid-cap funds also saw a slight increase of 4.3 per cent, climbing from Rs 4,683 crore in October to Rs 4,883 crore in November.
Meanwhile, the equity mutual funds witnessed an inflow of Rs 35,943 crore in November, marking a drop of 14 per cent on a monthly basis.
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