 "mutual funds, MFs")
The total number of active systematic investment plan (SIP) accounts stood at close to 10 million at the start of 2016. Eight years on, the mutual fund (MF) industry is adding 5 million accounts in just a month.
Moreover, the monthly contributions have grown over sixfold to Rs 18,800 crore, according to data from the Association of Mutual Funds in India (Amfi).
The assets under management linked to SIP accounts have surged 8.6x from Rs 1.2 trillion to Rs 10.3 trillion during this period.
The phenomenal growth underscores the shift in investor behaviour, with many committing to make staggered investments
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