SIP mop-up in July topped entire year’s figure for FY14
MUMBAI: What took a year for SIP mop-up a decade ago, now needs just a month. Systematic investment plan contributions crossed the Rs 15,000-crore mark for the first time in July, industry data showed, reports Aseem Gujar. In FY14, MFs collected Rs 14,500 crore through SIPs in the entire fiscal. The steady rise in monthly SIP flows — which crossed the Rs 10,000-crore mark two years ago — comes on the back of retail investors’ growing maturity level and faith in the asset class. The surge points to the growing share of MF investments in household savings. “Investors in small towns are indirectly investing in stock markets through SIPs in MFs,” industry body Amfi’s chief N S Venkatesh said.Moreover, the industry’s assets under management have grown by 25% year-on-year, underscoring mutual f...
