Page 17 - Banking Finance February 2018
P. 17
MUTUAL FUND
MUTUAL FUND
NEWS
NEWS
NEWS
NEWS
NEWS
Maharashtra contributes Mutual funds collected Rs.6,200 crore via SIPs in De-
37% of mutual funds' cember 2017
equity The Mutual Fund industry garnered over set class like mutual fund. It is an in-
Rs.6,200 crore through SIP in Decem- vestment vehicle that allows investors
As per data from Association of Mu- ber, a surge of 56% from the year-ago to invest in small amount periodically
tual Funds period. The total money garnered by instead of lumpsum.
in India, fund houses through SIPs increased to
37 percent over Rs.59,000 crore in 2017 as com- The frequency of investment is usually
of total pared to about Rs.40,000 crore in 2016, weekly, monthly or quarterly. It is simi-
equity as- Association of Mutual lar to a recurring deposit
sets under management is from Funds in India (Amfi) data where investors deposit
Maharashtra. Out of the total Rs a small or fixed amount
showed. The higher inter-
9.80 lakh crore of total equity assets, est in SIPs could be attrib- every month. As per the
Rs 3.64 lakh crore has been contrib- uted to robust perfor- latest data, the industry
uted by Maharashtra. mance of equity schemes garnered about Rs6,222
crore last month through
Also, Maharashtra continues to domi- and investor education SIPs as against Rs3,973 crore collected
nate the mutual fund industry with initiatives taken by industry body Amfi, in December 2016.Overall, investors in-
the highest equity AUM. The state Kotak Mahindra Mutual Fund Managing fused over Rs2.3 lakh crore in mutual
has registered an increase of a whop- Director Nilesh Shah said. fund schemes in 2017. And more than
ping 80 percent or nearly Rs 1.6 lakh SIPs have been the preferred route for Rs59,000 crore invested through SIPs
crore in the last one year. The cat- retail investors to invest in mutual alone. The industry added over 9.2 lakh
egory of Equity AUM includes pure funds as it helps them reduce market SIP accounts each month on an aver-
equity funds, ELSS, balanced funds, timing risk, he added. "SIP has been age, with an average size of over
and equity ETFs. New Delhi followed gaining favour with mutual fund (MF) Rs3,300 per account.
Maharashtra with equity AUM of Rs investors, as it assists in rupee cost av-
89,712 crore with a rise of 67 per- eraging and also in investing in a disci- Currently, mutual funds have nearly 2
cent or Rs 36,138 crore in a year. plined manner without bothering about crore SIP accounts through which in-
Gujarat stood third in terms of equity market volatility," Amfi Chairman A vestors regularly invest in Indian mutual
participation. Balasubramanian said. fund schemes. Going ahead, ICICI Pru-
dential Mutual Fund Managing Direc-
The equity AUM of Gujarat almost Further, he said that investors are no tor and Chief Executive Nimesh Shah
doubled in one year. The equity more interested in buying into tradi- believes that SIP culture is likely to con-
AUM of Gujarat was Rs 77,064 crore tional asset classes such as real estate tinue and entrench in the mutual fund
in December 2017. and gold, thus moving to financial as- investment landscape.
BANKING FINANCE | FEBRUARY | 2018 | 17
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