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Tuesday, October 26, 2021

Mutual funds: Tremendous pace in SIP investment, for the first time beyond Rs 10 thousand crore

Investing in mutual funds through SIP is growing rapidly.

Due to the decreasing interest of banks’ FDs and small savings schemes, the inclination of investors towards mutual funds is increasing. Investment in mutual funds is also gaining momentum from the mutual fund platform of fintech companies. The number of people investing through Systematic Investment Plan ie SIP of mutual funds is also increasing and investment in it is also increasing. In the month of September, for the first time, there has been a net investment of more than 10 thousand crores in the Systematic Investment Plan (SIP) of mutual funds. A record 26.8 lakh new SIP accounts have been opened during this month.

SIP investment crosses Rs 10 thousand crore

According to the data of Association of Mutual Funds in India, there was a net investment of Rs 10,351.3 crore through SIP in September. In comparison, an investment of Rs 8,641 crore came in SIP in March 2020, the same month a nationwide lockdown was imposed to prevent the corona epidemic. Since then, there has been an increase of about 20 percent in this case. According to NS Venkatesh, CEO of Association of Mutual Funds in India (AMFI), investing Rs 10 thousand crore in SIP is a big deal. This shows that investor confidence in mutual funds remains intact.

Investment of Rs 8,677.4 crore in equity and equity-linked schemes

According to the data released by AMFI on Friday, Rs 8,677.4 crore was invested in equity and equity-linked schemes in September. There was a net investment of Rs 8,666.7 crore in this category of funds during August. However, if the entire mutual fund industry (including debt) is taken into account, then in September, Rs 47,257.4 crore was withdrawn from them. In September, except small-caps, all other funds in the equity category saw net exposure. Small-cap funds saw withdrawals for the second consecutive month, while large-cap and multi-cap funds saw net inflows after just one month of withdrawal. Mid-cap funds saw net inflows for the fifth month.

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Equity funds trend due to stock market movement

According to mutual fund experts, the boom in the stock market is attracting mutual fund investors to equity funds. The Sensex rose above 60,000 for the first time in September. India was included in the fastest growing stock market in the world. Investment in mutual funds is also increasing due to assets like gold and real estate. The Sensex has more than doubled since March 2020.

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