A new landmark for the Mutual Fund Industry! The total number of investors who have been investing in Mutual Funds through Systematic Investment Plans or SIPs have reached over 2.39 cr. This information was revealed by N.S. Venkatesh, Chief Executive of the Association of Mutual Funds in India (AMFI).
In the first quarter of the current financial year, 1.2 million new investors have invested in Mutual Funds through the SIP route, he added.
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According to this Mutual Fund industry body, the total new investments in June in Mutual Funds through the SIP route is worth Rs 9152 cr. Amid high market uncertainties, many investors are now willing to invest for long term period in mutual funds. The total new inflows in the June month is Rs 4608 cr.
See key takeaways of N.S. Venkateshs remarks:
– Fresh equity inflow in the Month of June through SIP route in Mutual Funds was Rs 4608 cr.
– Total number of investors in Mutual Funds via SIP route stand at 2.39 cr; In Q1FY22, 1.2 million new investors were added
– Retail investors have shown an appetite to invest for long term in Mutual Funds via SIP route.
– The participation of retail investors is rising in mutual fund instruments.
– In June, total investments made via SIP route was worth Rs 9152 cr.
– The number of new folios that were added in June equals to 21 lakhs.
– Mid cap funds are seeing a good investor response.
The Association of Mutual Funds in India (AMFI) is dedicated to developing the Indian Mutual Fund Industry on professional, healthy and ethical lines and to enhance and maintain standards in all areas with a view to protecting and promoting the interests of mutual funds and their unit holders, the website says.
AMFI, the association of all the Asset Management Companies of SEBI registered mutual funds in India, was incorporated on August 22, 1995, as a non-profit organisation. As of now, 44 Asset Management Companies that are registered with SEBI, are its members.