India’s mutual fund industry touched an all-time last month, all thanks to the monthly inflows through Systematic Investment Plan (SIPs).
According to a media report, the industry saw people investing as high as Rs 42,000 crore in April.
The report, published in The Economic Times, also noted that number of SIPs -- where an individual invests a fixed amount of money every month in a mutual fund scheme, has doubled in the last three years.
In 2013-14, a total of 51.96 lakh SIPs were registered with different financial investment firms. The industry saw a 150 per cent rise in March 2017 when 1.28 crore SIPs were registered -- marking a 150 per cent jump.
In 2013-14, SIPs fetched a total investment of Rs 1,206 crore whereas in March 2017, SIPs collected Rs 3,989 crore – an over 300 per cent rise.
Also, the average ticket size of SIPs has increased from Rs 2,322 per SIP to Rs 3,121.
Last fiscal, registration of new SIPs jumped by 33 per cent from 44.98 lakh to 55.95 lakh, according to CAMS MFDEX, which represents 92 per cent on the MF industry. For the same period, the SIP assets rose to Rs 1,17,706 crore, a jump of 52 per cent from Rs 77,159 in 2015-16.
