Investors are investing heavily in mutual funds through SIPs, a huge increase in FY 2023-24 – India TV Hindi

Assets under management through SIPs also rose to Rs 10.71 lakh crore in March.- India TV Paisa

Image: File Assets under SIP also rose to Rs 10.71 lakh crore in March.

The trend of investing in mutual funds is constantly increasing. According to data from industry body ‘Association of Mutual Funds in India’ (Amfi), investments in mutual funds through structured investment plans (SIP) will grow by 28% year-on-year to a record 2 lakh in FY2023. It has reached Rs. -24. According to Bhasha News, mutual fund investment through SIP was Rs 1.56 lakh crore in FY 2022-23. This amount was Rs 1.24 lakh crore in 2021-22 and Rs 96,080 crore in 2020-21.

More than four times increase in mutual fund contribution through SIP

Mutual fund contributions from SIP have seen a more than four-fold increase in the last seven years, Amfi data shows. In the financial year 2016-17, this amount was Rs 43,921 crore. In the month of March, the fund’s investment through SIP increased by 35 per cent to an all-time high of Rs 19,270 crore. In March 2023, the figure was Rs 14,276 crore. SIP contributions have been over Rs 19,000 crore in two consecutive months of February and March this year. This reflects a trend among investors towards a more disciplined investment strategy.

The number of SIP accounts will reach a record level of 8.4 crore in 2024.

Karthik Junagadala, small case manager and founder of Quantus Research, said investors overvalued equities, given the strong performance last year. This shows that investors are regularly reviewing their portfolios and making changes accordingly. Industry experts believe that an upbeat economic outlook along with increased market participation by retail investors also helped boost SIP flows. Investors’ confidence in mutual funds remains intact. This is also reflected in the number of SIP accounts reaching an all-time high of 8.4 crore in March 2024. Assets under SIP also rose to Rs 10.71 lakh crore in March.

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