Mutual Fund: Investments made through SIP have reached a record high in November 2023. For the first time in the month of November, more than Rs 17,000 crore has been invested in mutual funds through systematic investment plans. Obviously, investors are liking the method of systematic investment plan for investing in mutual funds. In November, 14.1 lakh new accounts were opened for investment under the Systematic Investment Plan and the number of SIP accounts has increased to 7.44 crore, which is a historically high level.
Association of Mutual Funds in India (AMFI) has released the data of investment in mutual funds for the month of November. According to AMFI, an investment of Rs 17,073 crore came through SIP in November, while an investment of Rs 16,928 crore came in October 2023. Investment through SIP has increased but investment in equity mutual funds has declined in November. A total investment of Rs 15,536 crore has come in November, while investment of Rs 19,957 crore has come in October 2023. That means there has been a 22.15 percent decrease in investment in equity funds in the month of November. Manish Mehta, Head of Sales, Marketing, Digital Business, Kotak Mutual Fund, said, equity inflow has decreased in November due to Diwali festival and bank holidays.
According to AMFI data, investors are investing the most in small cap and mid cap fund schemes. In November, there was an investment of Rs 3699.24 crore in mid cap funds and Rs 2665.70 crore in small cap funds. Whereas between January to November in 2023, there has been an investment of Rs 37,178 crore in mid cap funds and Rs 21,520 crore in small cap funds. Whereas during this period, outflows of Rs 2687 crore have been seen from large caps.
According to AMFI, the asset under management (AUM) of mutual funds has reached Rs 49.04 lakh crore in the month of November, which is the highest level till date.
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