look news india
Mumbai: Systematic Investment Plan (SIP) assets grew 5.30 per cent to Rs 13.09 lakh crore in July. This increase in assets under management (AUM) has been seen due to strong inflows. According to data from the Association of Mutual Funds in India (AMFI), an all-time high inflow of Rs 23,332 crore was seen through SIP in July.
The share of mutual funds in domestic savings is increasing, reflecting the growing preference for mutual funds for investment.
This reinforces the belief that the mutual fund industry is capable of delivering stable returns in the long term despite short-term volatility in the market, the AMFI report said.
The share of SIP accounts in the total AUM of mutual funds has gone up from 20.30% in June to 20.20% in July. The number of SIP accounts has reached 9.34 crores with a net record increase of 35.29 lakhs.
The total AUM of the industry stood at an all-time high of Rs 64.97 lakh crore. Due to inflows from debt-oriented mutual funds and equity-oriented mutual funds, the AUM numbers have remained high.
The AUM of the equity mutual fund segment is at an all-time high of Rs 29.34 lakh crore. Which is 45 percent of the total AUM of the industry.
Equity schemes have seen an increase in AUM due to heavy investments.
The mutual fund industry is witnessing steady growth due to the increasing confidence of retail investors. The AUM of passive funds grew to Rs 10.95 lakh crore in July, which was 17 per cent of the total AUM of the industry.
