Mutual Fund SIPs accounts stood at Rs. 1.40 crore
Mutual Funds have currently about 1.40 crore (14 million) Systematic Investment Plan (“SIP”) accounts through which investors regularly invest in Mutual Fund schemes.
Association of Mutual Funds in India (“AMFI”) data shows that the MF industry had added about 6.26 lacs SIP accounts each month on an average during the FY 2016-17, with an average SIP size of about Rs. 3,200 per SIP account.
During FY 16-17, a total amount of Rs. 43,921 crore was collected through SIP.
Disclaimer – This document is for general information only and does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this information. This document provides general information on performance; financial planning and/or comparisons made are only for illustration purposes. The data/information used/disclosed in this document is only for information purposes and not guaranteeing / indicating any returns. This material provides general information and comparisons made (if any) are only for illustration purposes. Investments in mutual funds and secondary markets inherently involve risks and recipient should consult their legal, tax and financial advisors before investing. Recipient of this document should understand that statements made herein regarding future prospects may not be realized. Recipient should also understand that any reference to the indices/ sectors/ securities/ schemes etc. in the document is only for illustration purpose and should not be considered as recommendation(s) from the author or L&T Investment Management Limited, the asset management company of L&T Mutual Fund or any of its associates. Recipient of this information should understand that statements made herein regarding future prospects may not be realized or achieved. Neither this document nor the units of L&T Mutual Fund have been registered in any jurisdiction except India. The distribution of this document in certain jurisdictions may be restricted or totally prohibited and accordingly, persons who come into possession of this document are required to inform themselves about, and to observe, any such restrictions.