- SIP CONTRIBUTIONS AT ALL-TIME HIGH
INDIA'S MUTUAL FUND assets crossed the ₹50-trillion mark for the first time in December 2023, hitting ₹50.77 trillion, data from the Association of Mutual Funds in India (Amfi) showed. In a sign of how much more comfortable Indians are investing their money today, rather than saving it, inflows into systematic investment plans (SIPS) touched fresh high of ₹17,611 crore in December 2023.
Rashesh Shah, chairman, Edelweiss group, observed that even at a level of $50 trillion, we are less than 1% of the global AUM. "We have a long way to go but the success of the SIP should sustain," Shah told FE. He believes there should be further sachetisation with the ₹100 ticket size going down to double digits.
"We should overtake the 100trillion mark in the next seven years or so," A Balasubramanian, MD and CEO,Aditya Birla Sun Life AMC, told FE. Small investors, he said, had realised that over a ten-year period MF schemes provide the best returns.
Denne historien er fra January 09, 2024-utgaven av Financial Express Mumbai.
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Denne historien er fra January 09, 2024-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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