According to per data provided by mutual fund registrars CAMS and Karvy, mutual fund equity SIP folios have grown over 32% since the beginning of current year.
66 lakh accounts
New MF SIP accounts have gone up from 50 lakh in January to 66 lakh last month. CAMS, which acts as registrar to about 60% of domestic fund houses, claims to have added over 7 lakh SIP folios between January and July this year. About Rs 1,000-1,200 crore worth of fund investments come through the SIP route.
Fund houses with small-ticket sizes, often lower than Rs 1,000 and marked as micro SIPs, are seeing more account openings. Weighted average investment in one SIP account is in the range of Rs 1,500-2,000 per month. The duration of average investment has gone up from 12-15 months to around 36 months.
But, extreme market volatility is prompting investors to take equities exposure through MFs. The near 17% fall over the past nine months has given investors an opportunity to buy equity assets at cheaper valuations. Investors are starting new SIPs on expectations that they would get larger number of units as a result of the market downturn.
Mutaul find SIPs become popular in times of a market downturn. The fund industry is working hard to get more retail investors, whose investments are more long term in nature.
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