Investments in the mutual fund industry through Systematic Investment Plans or SIPs grew to Rs 1.24 lakh crore in the financial year 2021-22. In the last financial year, investment in SIP has increased by 30 percent as compared to the previous year. This shows that the popularity of SIPs is increasing among retail investors.
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According to the data of Association of Mutual Funds in India (Amfi), an investment of Rs 96,080 crore came through SIP in 2020-21. Moreover, mutual fund SIP contributions more than doubled in five years. It was Rs 43,921 crore in the year 2016-17. Himanshu Srivastava, associate director-manager-research, Morningstar India, said that the increase in investment through SIPs shows that investor interest in equity funds is increasing.
The assets under management of the SIP increased to Rs 5.76 lakh crore at the end of March, from Rs 4.28 lakh crore at the end of March, 2021.