Mutual Fund SIP Flows Climb To Rs 21,000 Cr In June
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Association of Mutual Funds of India said that this is higher than the Rs 20,904 crore in May.
Mutual fund investors put in Rs 21,262 crore in systematic investment plans in June
Mutual fund investors put in Rs 21,262 crore in systematic investment plans (SIPs) in June, an industry body said on Tuesday.
This is higher than the Rs 20,904 crore in May, the Association of Mutual Funds of India (Amfi) said.
Venkat Chalasani, CEO, Amfi, said, “The overall assets under management (AUM) from SIPs grew to Rs 12.43 lakh crore, which can be attributed to both the mark-to-market growth due to the surge in market and also to the new inflows.”
A total of 55 lakh new SIPs were registered in June, taking the total number of SIPs to 8.98 crore, he said, adding that 32.35 lakh matured or were shut down.
The overall AUM of the MF industry stood at over Rs 61.33 lakh crore as of June and Chalasni said there was an outflow in the debt MF front because of the advance tax payments.
What Is a Systematic Investment Plan (SIP)?
- A SIP is a popular method for investing in mutual funds.
- It allows you to invest a fixed amount of money regularly, like monthly or quarterly, instead of requiring a large lump sum investment upfront.
- SIPs can be started for as little as Rs. 500 per month, making them accessible to almost everyone.
- SIPs are known for promoting disciplined investing and taking advantage of rupee-cost averaging (buying more units when the market is low and fewer units when the market is high).
The Association of Mutual Funds in India (AMFI) is a non-profit organization that serves as the regulatory body for the mutual fund industry in India. AMFI provides investor education and awareness programs to help people understand mutual funds and SIPs.
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