Mutual Fund Update: Highest ever SIP inflows in the month of October 2018
Systematic Investment Plan (SIP) better known as SIP has turned out to be the main source of inflows to the Indian domestic mutual fund industry. It is the best option to prevent the pitfalls of equity investment. Retail investors show behavioural traits and tend to buy high and sell low. SIP helps them overcome this bias.
AMFI data shows that the MF industry had added about 10.05 lakhs SIP accounts each month on an average during the first eight months of FY19. The average SIP size is of about Rs. 3,200.
Mutual Fund SIP accounts stood at 2.49 crore at the end of October 2019. And the total amount collected through SIP during October 2018 was Rs. 7,985 crore, highest ever in terms of amount.
