MF Talk: Retail investors riding India story; SIPs account for almost 20% of industry AUM: Hitesh Thakkar
SIPs is currently at 9.2 crores. This is now almost 20% of the industry AUM. So, the culture of investing systematically and holding on such assets is well on its way,” says Hitesh Thakkar, Acting Chief Executive Officer, ITI Mutual Fund.
In an interview with ETMarkets, Thakkar said: “Markets may likely continue to remain robust over the long run. More importantly the India story will play in the long term,” Edited excerpts:
Equity flows almost doubled in May 2024. What could have led to the rise in the flows? Net equity inflows increased 83% to Rs 34,697 crore last month against Rs 18,917.1 crore in April, according to the data released by the Association of Mutual Funds in India on Monday.
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View Details» <div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-111057510»>India is on the cusp of being one of the fastest-growing economies in the world and is poised to become $8-10 trillion in the next few years.
Investors want to participate in the India story, and they believe that the fund managers of Mutual fund AMC can help them and that is the reason the flow have risen, and it has been an ongoing process.
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SIPs also topped nearly Rs 21,000 cr. Can some of it be attributed to top up or additional SIPs done to factor in election day volatility?
May month saw 49,74,400 new SIPs added, with the mutual fund SIP AUM at Rs 11,52,801 crore, up from April's Rs 11,26,129 crore.
This has been an
