Investors' trust in mutual funds increased, Rs 21 thousand crore invested in SIP during June

Mutual fund investors have maintained their trust in June as well. In June, Rs 21262 crore has been invested in Systematic Investment Plan (SIP). This information has been given by the Association of Mutual Funds in India (AMFI). Talking about the month of May, then investors had invested Rs 20904 crore. 55 lakh new SIP accounts have been registered during June.

Jul 9, 2024 - 22:58
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Investors' trust in mutual funds increased, Rs 21 thousand crore invested in SIP during June
Investors' trust in mutual funds increased, Rs 21 thousand crore invested in SIP during June

Mutual fund investors have invested Rs 21,262 crore in the Systematic Investment Plan (SIP) during June. According to the Association of Mutual Funds in India (AMFI), this is more than the investment of Rs 20,904 crore in May.

AMFI CEO Venkat Chalasani said on Monday that the asset under management (AUM) of SIP has increased to Rs 12.43 lakh crore in June. The AUM of SIP has increased due to record growth in the market and new investments. 55 lakh new SIP accounts were registered during June.

This brings the total number of SIP accounts to 8.98 crore. During this time span, 32.35 lakh accounts matured or were closed. Venkat Chalasani did not disclose any details regarding his net investment after withdrawing in June. Similarly, equities mutual funds made an investment of Rs 40,608 crore in June. It has risen by 17% compared to the same period last year.

According to AMFI, from February 2021 to June 2024, domestic investors made a net investment of Rs 5.99 lakh crore in equity mutual funds. This is many times more than the Rs 33,361 crore withdrawn by foreign investors during this period.

The NSE Nifty has grown by about 65 percent in the last 40 months. Consistent mutual fund investment, stable income, and the fastest growth rate among major economies have contributed to this.

Muskan Kumawat Journalist & Writer