Seeing the attractive returns of the market and the tremendous benefits of compounding, the common investors of the country are now investing in mutual funds despite the risk. Yes, this is not what we are saying but the figures of AMFI (Association of Mutual Funds of India). According to the data of AMFI, the investment made through SIP in July 2024 has increased by 10 percent on a monthly basis. With this increase, SIP investment crossed Rs 23,000 crore in July 2024.
In June, an investment of Rs 21,262 crore was made through SIP
According to AMFI, this is the first time that SIP investment has crossed Rs 23,000 crore in a single month. According to the latest data of AMFI, monthly SIP increased from Rs 21,262 crore in June to Rs 23,332 crore in July. However, there has been a 9 percent decline in investment made in equity mutual funds in July.
Total AUM of mutual funds increased by 6 percent to Rs 64.69 lakh crore
Due to record investment in SIP, the total AUM of mutual funds also increased by 6 percent to Rs 64.69 lakh crore in July, which was Rs 60.89 lakh crore in June. During this period, investment in debt mutual funds has also increased. However, net investment in equity mutual funds has declined by 9%.
Big drop in investment coming into sectoral funds
There has been a huge decline of 18 percent in the investment coming in sectoral funds in July 2024, which was registering an increase for three consecutive months. The sectoral funds category of mutual funds had an investment of Rs 22,351 crore in June, which declined to Rs 18,386 crore in July.
Latest Business News
