SIP inflows rise in first 7 months of FY19 despite markets being volatile
At present, domestic mutual funds have about 2.49 crore SIP accounts through which investors regularly invest in Indian mutual fund schemes
Systematic investment plans, better known as SIPs, are in the news again as their collections rose in the first seven months of FY19, despite the market grappling with volatility in that period.
According to data provided by Association of Mutual Funds in India, in April-October FY19, mutual funds collected a total of Rs 52,472 crore through SIPs, around 50 percent higher than the Rs 34,887 crore they collected in the same period last year.
The data reveals that the MF industry has added 10.05 lakh SIP accounts each month on average so far this fiscal year. The average SIP size stood at around Rs 3,200 per account.
At present, domestic mutual funds have about 2.49 crore SIP accounts through which investors regularly invest in Indian mutual fund schemes.
The SIP instalment amount could be as small as Rs 500 per month. SIP is similar to a recurring deposit offered by banks wherein you deposit a small/fixed amount every month.
SIP is a very convenient (share market tips)method of investing in MFs. By issuing standing instructions to your bank to debit your account every month, one can avoid the hassle of having to write out a cheque.source- www.moneycontrol.com
Call On TOLL-FREE Number: 9009010900
Whatsapp User Join Our Group: 9300421111
No comments:
Post a Comment