There is some good news for the mutual fund industry. AMFI CEO C VR Rajendran has said that the mutual fund industry has close to 2 crore unique investors. He was speaking to media at the launch of DSP BlackRock MF’s new investor awareness portal, dspblackrock.com/learn.
Rajendran said that, over the next five years, the industry is planning to reach out to at least 9 crore investors who currently have investible surplus. He said that AMFI is confident of achieving this target considering the growing popularity of SIP and increasing distribution footprint across the country.
Highlighting the increasing number of SIP accounts, Rajendran said that the mutual fund industry has over 1.08 crore SIP accounts as on October 2016. Of these SIP accounts, nearly 56 lakh or 52% SIPs are active for more than five years. In fact, the industry has added over 7 lakh SIP accounts last month.
Rajendran attributed this to increased awareness about mutual funds and good fund performance.
As on August 2016, the total AUM of SIP stood at Rs. 1.25 lakh crore, which is around 8% of the overall AUM of the mutual fund industry.
