"The new SIP account opening are showing the robust growth. SIP is here to stay and when the broader markets show performance we see SIP outperforming," AMFI CEO N S Venkatesh said.
Kaustubh Belapurkar, Director - Manager Research at Morningstar Investment Adviser, said that investors continue to invest into equity mutual funds through SIPs.
The 44-player mutual fund industry, which mainly depends on SIPs for inflows, had assets under management of Rs 25.68 lakh crore at the end of September this year, as compared to Rs 24.31 lakh crore in September-end 2018.
SIP is an investment vehicle that allows investors to invest small amounts periodically instead of lump sum payment. The frequency of investment is usually weekly, monthly or quarterly. It is similar to a recurring deposit where investors deposit a small or fixed amount every month.
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