The count of individual MFDs doing over 100 monthly SIPs has risen to 67 from 65 in FY 2021 despite adverse impact of covid-19 on the industry, according to the Mutual Fund Trends report released by IDFC MF.
The number of MFDs doing 50+ monthly SIPs has also surged 15% to 225. The growth is even higher in '25+ monthly SIPs' bracket. The last financial year has seen 674 MFDs doing over 25 SIPs per month as compared to 572 a year ago.
Source: MFDex, CAMS
The report captures MFDex data, which covers 96% of the overall industry.
The count of MFDs in each bracket registered a stellar recovery after plummeting in the first half of FY 2021, the period of first wave of covid-19 in India.
“FY21 was an extremely volatile year with many struggling to ensure job security and a steady cashflow. Additionally, extreme market volatility meant that many investors were jittery after the fall and abstained from investing in equities, with many of them deciding to stop their SIPs. However, as the scenario improved, investors restarted investments via SIP through their trusted MFDs,” said Gaurab Parija, Head – Sales & Marketing, IDFC AMC.
