MFs get over `67K cr from SIPs in FY18

Financial Chronicle - - MONEY GAME -

SIPs (sys­tem­atic in­vest­ment plans) can be at­trib­uted to the strong per­for­mance of eq­uity schemes and in­vestor ed­u­ca­tion ini­ti­ated by Amfi and mu­tual fund houses, said Satish Menon, ex­ec­u­tive di­rec­tor, Geo­jit Fi­nan­cial Ser­vices.

He said Sebi re­duc­ing the mu­tual fund ex­pense ra­tio to 5 ba­sis points from 20 ba­sis points along with re­cent mar­ket cor­rec­tions will cre­ate a lu­cra­tive en­vi­ron­ment for in­vest­ing through the SIP route in the mar­ket. As per the lat­est data, on an av­er­age, the mu­tual fund in­dus­try added about 9.70 lakh SIP ac­counts each month in 2017-18 as against an av­er­age of 6.27 lakh in the pre­vi­ous fi­nan­cial year.

The in­dus­try had gar­nered Rs 7,119 crore last month through SIPs as com­pared to Rs 4,335 crore col­lected in March 2017. More­over, the av­er­age SIP size was Rs 3,375 per month last fis­cal. Cur­rently, mu­tual funds have about 2.11 crore SIP ac­counts.

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