Mutual Funds collect Rs 672 billion through SIP in 2017-18; up 53% y-o-y

Mutual Funds collect Rs 672 billion through SIP in 2017-18; up 53% y-o-y

Retail Investors are increasingly opting the SIP (systematic investment plans) route to invest in mutual funds with the industry collecting Rs 671.9 billion in 2017-18 while the collections stood at Rs 439.21 billion in 2016-17. The increased interest in SIPs can be attributed to the strong performance of equity schemes and investor education initiated by AMFI and mutual fund houses, Geojit Financial Services Executive Director Satish Menon said. SEBI’s announcement of reduction of mutual expenses to 5 basis points from the earlier 20 basis points and the recent market correction is also expected to drive investor interest. In 2017-18 an average of 0.97 million SIP accounts were opened each month compared to 0.62 million in 2016-17.

Read More at Business Standard News date : 16 Apr 2018, Monday

©2018 TheNewsClues