SIP flows scale Rs 20,000 crore mark 1st time

MUMBAI: Monthly inflows into mutual funds through the SIP route broke above the Rs 20,000-crore mark for the first time ever in April, reflecting maturity among investors aiming to create wealth by investing in the stock market for the long term. By end-April, the total funds managed by the MF industry also reached a new all-time high at Rs 57.3 lakh crore – up by nearly Rs 4 lakh crore from a month ago.

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In April, gross flows through SIPs reached Rs 20,371 crore, up from Rs 19,271 crore in March, data released by fund industry trade body Amfi showed.According to Venkat Chalasani, chief executive, Amfi, this reflects the confidence investors have in mutual funds as a class.
This milestone also shows that the MF industry has received higher acceptance among investors for investing their savings and creating wealth in the long-term via the SIP route, said A Balasubramanian, MD & CEO, Aditya Birla Sun Life MF.

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