Mutual Fund SIP Contribution Hits All-time High in December at Rs11,305.34 Crore
IANS 11 January 2022
Monthly SIP (systematic investment plan) contributions hit a record high in December 2021, rising to Rs11,305 crore, the Association of Mutual Funds in India (AMFI) said on Monday.
In November, contributions through the SIP route were at Rs11,005 crore.
Also, the number of SIP accounts grew to 49.1 million from 4.78 million during the period, the statement added.
The asset under management (AUM) of the MF industry stood at Rs37.72 lakh crore at the end of December.
"Year 2021 has been a momentous year, with Mutual Funds emerging as the preferred investment destination with continued record equity flows through NFOs and ongoing investment into existing schemes," AMFI Chief Executive NS Venkatesh said.
"SIP has been the favourite medium of consistent investing and disciplined mode of savings by the common man. This is evident from the number of accounts rising."
Retail investors are understanding the nuances of managing market volatility and risk adjustment through SIP, Mr Venkatesh added.
WhiteOak Capital Asset ManagementChief Executive Officer Aashish P Somaiyaa said: "It is encouraging to see investors increasing their participation at this opportune juncture in the markets and economic performance of the country and it augurs well for the industry, for investors and the markets."
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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