Monthly contributions into systematic investment plans rose for the ninth straight month.
Monthly SIP contributions, according to the mutual fund lobby, hit a fresh high in January. The number of mutual fund SIP accounts also crossed 5 crore compared with 4.90 crore at the end of December.
“January was a reasonably good month. Net assets under management crossed 38 lakh crore for the first time. From February, there could be certain apprehensions in the mind of investors because of corrections in the market, but we expect to see good investments via SIPs since it’s meant for long-term investment,” NS Venkatesh, chief executive officer at AMFI, was quoted as saying in a statement.