MF inflows via SIPs at record high
Reach `15,245 cr in July
image for illustrative purpose
New Delhi: Investors are betting big on systematic investment plans or SIP to generate long-term wealth with the monthly flow in the mutual fund (MF) industry through the route reaching an all-time high of Rs15,245 crore in July. “The surge in retail investors’ interest in mutual funds has translated into impressive inflow across scheme categories. The star performer this month has been SIP, with an impressive over 33 lakh new SIP accounts registered and a record Rs15,215 crore of monthly contribution,” Amfi CEO NS Venkatesh said. The record high SIP numbers came despite the equity mutual funds registering a 12 per cent month-on-month decline in inflow to Rs7,626 crore in July, data showed.
