 "51% rise in SIP contribution to mutual funds so far this financial year")
There is a 51% rise in systematic investment plan (SIP) contribution to mutual funds (MFs) so far this financial year. At a time the markets are facing headwinds and stocks have corrected over 10%, the inflows through the SIP mode has hit an all-time high of Rs 66.4 billion in January. This is over the 62% rise in the corresponding previous month. Total number of SIP accounts is nearly 20 million.
The April-January period has witnessed total SIP inflows of over Rs 536 billion. It stood at Rs 355 billion a year ago. In the current fiscal year, SIP inflow surpassed those received during 2016-17. In FY17, SIP inflow stood at Rs 439 billion. FY18 is likely to end with total SIP inflow of nearly Rs 663 billion, if the trend continues.
Sector players remain bullish on SIP inflows. According to them, by mid-FY19, the sector may hit the Rs 100-billion mark of monthly SIP inflows.
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