MFs see record SIP registrations in June at 2.13 mn on strong equity show

Market participants say under the pandemic SIPs have become a key component of investors' portfolios and even the trading class have started taking to them

Mutual funds (MFs) saw record new registration of systematic investment plans (SIPs) in June at 2.13 million. Since April, nearly 5.1 million new SIPs have been enrolled largely on the back of strong performance of equity markets.

Market participants say that in the current scenario SIPs have become an essential component of investors portfolio. “Earlier salaried classes used to invest in funds through SIPs. But during the pandemic even trading class have also understood the benefit of investing and have started doing SIPs,” said D P Singh, chief business officer at SBI MF.

In April and May, new SIP registered