Page 19 - Banking Finance November 2017

MUTUAL FUND

MUTUAL FUND

NEWS
NEWS
NEWS
NEWS
NEWS

Mutual funds stocking Mahindra Mutual Fund plans to introduce any-day SIP

up ITC share as the in all schemes
stock turns cheapest Mahindra Mutual Fund will allow investors to choose random days for invest-
ments through systematic investment plan
among FMCG segment (SIP) under all its schemes with effect from

Mutual funds houses have been in- November 1, a notice from the fund house
vesting in stated.
shares of
ITC due Currently, investors can enroll for SIP facility
to its with monthly, quarterly, only by choosing
cheap specified dates--1st, 5th, 10th, 15th 20th,
valua- and 25th or all 6 dates as SIP debit date. Recently, Motilal Oswal Mutual Fund
tions compared with the available started a similar feature under six of its equity schemes.
stocks in the FMCG sector.
ITC Country's 4th largest company by Mutual funds growing at a rate of 15%: Kotak Mutual
market cap which rose a little over Fund
11 percent so far in the year 2017
saw some bulk-purchasing interest Mutual funds are growing at a rate of 15 per cent annually in the country, a
senior official of Kotak Mutual Fund told. "
from mutual fund managers in Sep-
Mutual funds are growing at a rate of 15 per
tember ahead of its financial results.
cent annually in the country," KMF national
Fund managers bought Rs 1,433 head (sales and distribution alliance) Manish
crore worth of ITC shares in Septem-
Mehta told.
ber, according to data compiled by
Morningstar India which led to over "Indian mutual fund industry is in a growth
10 percent month-on-month increase phase with investors willing to test equity
in their holding. The market value of mutual funds . The Systematic Investment Plan (SIP) is gaining immense popu-
total mutual fund holding in ITC is larity among investors as an efficient tool for regular and disciplined investments.
nearly Rs 15000 crore.
With SIP, one need not worry about market volatility or timing of market," he
The top 10 mutual funds, by assets said. Mehta further said "SIP has been a key focus area at KMF. Our SIP books
under management, purchased 4.15 have grown almost 10 times in the last three years. Every year we celebrate SIP
crore shares of ITC in September. day in August."

BANKING FINANCE | NOVEMBER | 2017 | 19

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