The mutual fund industry raised Rs 8,123 crore though the SIP route last month, lower than Rs 8,376 crore mopped up in April
Equity funds account for 42 per cent and 52 per cent of AUMs for HDFC AMC and Nippon AMC, respectively
SIP continued to be the preferred route for retail investors to invest in mutual funds as it helps them reduce market timing risk, the industry body noted.
SIP contribution in July stood at Rs 75 billion - 21 per cent higher than the past 12-month average of Rs 62 billion
According to them, by mid-FY19, the sector may hit the Rs 100-billion mark of monthly SIP inflows
The total SIP accounts have risen to 18.8 million
The cumulative SIP inflows in FY18 are Rs 40,780 crore, against about Rs 43,921 crore the industry got during the last financial year
Continuous efforts by fund industry made SIP a grand success; in FY18 MFs may get Rs 70k crore inflows through SIP route
A year before, the sector got less than Rs 3,700 crore. In a year, SIP monthly contribution has increased by about 50%