MF update: SIP contribution rises by more than 9 per cent
Mutual funds subscriptions through SIPs contributed Rs. 7,304 crore in May 2018. This exceeds the April collection by more than 9 per cent. As per the latest AMFI data, in March, the total SIP accounts stood at 2.23 crore.
Systematic investment plan that is SIP is an investment option provided by the mutual funds where investors can invest his money in the mutual funds in a staggered manner. The amount which is to be invested in fixed intervals can be as small as Rs. 500 per month.
With the rising penetration and the hugely popular awareness campaign of 'Mutual fund sahi hai,' the industry has witnessing increased inflows through SIP. According to AMFI data, the Indian MF industry has added around 9.58 lakh SIP accounts every month on an average during the FY 2018-19, with an average SIP size of Rs. 3,275 per SIP account.
