Systematic investment plan (SIP) continued to be the most favoured option among retail investors for investing in mutual funds, with the industry garnering over Rs. 5,600 crore through this route in October, a surge of 64 per cent from the year-ago period.
With this, the total funds garnered by fund houses through SIPs have touched Rs. 34,887 crore in the first seven months of the current fiscal, according to the Association of Mutual Funds in India (AMFI) data.
In comparison, Rs. 23,584 crore was collected through the investment plan in April-October 2016-17.
The increased interest in SIPs could be attributed to strong performance of equity schemes and investor education initiated by AMFI and mutual fund houses, Bajaj Capital CEO Rahul Parikh said.
