Women investors are more likely to start first SIP in their 20s as compared to men. A survey conducted by Aditya Birla Sun Life MF shows that 33% of women respondents started their first SIP before turning 30. For men, the figure was 22%.
When investors started their first SIP:
Overall, 24% investors started their first SIP in their 20s. 35% investors started SIP at the age of 30-39.
The starting amount of monthly SIP was less than Rs 5,000 for 66% investors. Only 8% respondents said their first SIP amount was over Rs 10,000.
657 investors participated in the survey of which 85% were male.
Majority investors willing to hold SIP for long term
Of the investors surveyed, 55% women and 57% men said they are willing to hold their SIPs for more than 10 years. Not only that, 57% of respondents said they recommend holding SIP for more than 10 years.
85% investors have multiple SIPs
The survey shows that 85% investors put money in mutual funds through multiple SIPs. The ratio is even higher in the age group of 36-45. 91% of the respondents in this age group have SIPs in multiple accounts.
The ratio is lowest for investors in the 20-25 age group. Only 68% investors in this age group have multiple SIP accounts.
75% investors start different SIPs for different goals
The survey shows 75% investors believe in starting different SIPs for different goals. However, almost half of first time SIP investors said they started SIP without any goal in mind. 48% respondents said they didn't had any specific goal in mind when they started.
