The magic of SIP continues among investors
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Mutual Funds: Indian investors are no longer shying away from taking risks for higher returns. On the other hand, due to the excellent returns of SIP in mutual funds, the number of investors is continuously increasing. Systematic investment plans in the financial year 2023-24 (SIPInvestment in mutual funds through ) increased by 28 percent on annual basis to a record Rs 2 lakh crore. In the financial year 2022-23, mutual fund investment through SIP was Rs 1.56 lakh crore. This amount was Rs 1.24 lakh in the year 2021-22 and Rs 96,080 crore in 2020-2021. Data from industry body ‘Association of Mutual Funds in India’ (Amfi) shows that mutual fund contributions through SIP have seen more than four times growth in the last seven years. In the financial year 2016-17, this amount was Rs 43,921 crore.
How much was invested in the month of March?
In the month of March, fund investment through SIP reached an all-time high of Rs 19,270 crore with a high growth of 35 percent. In March 2023, this figure was Rs 14,276 crore. SIP contributions have been more than Rs 19,000 crore in two consecutive months of February and March this year. This reflects a trend towards a more disciplined investment strategy among investors. Karthik Jonagadala, small-case manager and founder of Quantus Research, said investors gave more importance to equities, driven by strong performance last year. This shows that investors are regularly evaluating the portfolio and making changes accordingly.
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Effect of market boom is visible
Industry experts believe that an upbeat economic outlook along with increasing market participation by retail investors also helped in increasing SIP inflows. Investors continue to have confidence in mutual funds. This is also reflected in the number of SIP accounts reaching a record high of 8.4 crore in March 2024. Assets under management from SIP also increased to Rs 10.71 lakh crore in March.
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