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Sunday, 14 October 2018

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Mutual Fund Industry managed to raise 40 percent more through SIP

Mutual Fund Industry managed to raise 40 percent more through SIP



Despite huge volatility in the stock market, the mutual fund industry raised Rs 7,727 crore in September through systematic investment plans (SIP). This is 40 percent more than the same month last year.

According to the figures of Association of Mutual Funds in India (Amphi), in the first half of the current financial year (April-September), a total of Rs 44,487 crore has been raised through SIP. During the April-September period of 2017-18, the figure was Rs. 29,266 crore. The mutual fund industry said that SIP remains the most suitable medium for investing in mutual funds for retail investors.

In the month of September 2017-18, Rs 5,516 crore was mobilized. Mutual funds companies raised Rs 7,658 crore in August through SIP and Rs 7,554 crore in each month in June and July.

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