Live
- Govt waives bank guarantees for spectrum purchased before 2022
- 75th Constitution Day celebrated at Raj Bhavan
- Gussadi dance showcased at IFFI, Goa
- New textile policy aims Rs 10,000 cr investments
- TDP set to re-enter RS with bypoll to 3 seats
- Arvind Store unveils fashion fest
- Insult to statute, mango kernel deaths rock Assembly
- RRR Custodial Torture: Ex cop Vijay Paul arrested
- Record 4.49 million PCs sold in India in Q3
- CM presents Rs 12K cr supplementary budget
MF collection via SIP up 7.5% in August
The mutual fund industry managed to garner Rs 8,231 crore through systematic investment plans (SIPs) in August, a rise of 7.5 per cent from the year-ago period, despite volatility in equity market.
New Delhi: The mutual fund industry managed to garner Rs 8,231 crore through systematic investment plans (SIPs) in August, a rise of 7.5 per cent from the year-ago period, despite volatility in equity market.
With this, total SIP contribution in the first five months of the current fiscal rose to Rs 41,098 crore as compared to Rs 36,760 crore in April-August 2018, as per the Association of Mutual Funds in India (AMFI).
SIP continued to be the preferred route for retail investors to invest in mutual fund as it helps them reduce market timing risk, the industry body noted.
As per the latest data, SIP contribution in August stood at Rs 8,231 crore, which was 7.5 per cent higher than Rs 7,658 crore clocked in the same month last year.
However, the 44-player mutual fund industry, which mainly depends on SIPs for inflows in equity funds, saw a marginal drop in SIP investments as compared to the preceding month.
In July this year, the industry had collected Rs 8,324 crore. It had garnered Rs 8,122 crore in June, Rs 8,183 crore in May and Rs 8,238 crore in April.
Inflows into SIPs have averaged about Rs 8,000 crore for the 12 months till August. Going ahead, SIPs would witness robust flows on equity side in September, while on the debt side, liquid funds may see volatility owing to quarter-end phenomenon, AMFI Chief Executive Officer N S Venkatesh said.
Over the past few years, investment through SIPs has been rising as investments of close to Rs 92,700 crore through the mode were seen in 2018-19, over Rs 67,000 crore in 2017-18 and more than Rs 43,900 crore in 2016-17
