SIP inflows touch Rs 5,206-cr milestone in August

SIP is considered as a vital constituent in the growth of MF industry

Mutual fund (MF) investments through the systematic investment plan (SIP) route touched a new high of Rs 5,206 crore in August. A record 700,000 new SIP accounts were also opened during the month, taking the total tally of such accounts to around 16 million. 

According to industry experts, the impressive figure indicates that flows into MFs would sustain at record levels. 

Nearly half of the new accounts prefer the SIP mode over the traditional lump-sum or one-time investment option. During the start of FY18, the number of SIP accounts stood at 13.5 million.

Sundeep Sikka, CEO of Reliance Nippon Mutual Fund, says, “Investor