The monthly SIP contributions remained above Rs 20,000 crore in June. Specifically, mutual fund (MF) SIP contributions totaled Rs 21,260 crore in June, up from Rs 20,904 crore in May. The total systematic investment plan (SIP) contributions for the first six months of this year have surpassed the Rs 1 lakh crore mark, reaching Rs 1.19 lakh crore.

The total assets under management (AUM) of MFs increased by 4% last month, reaching Rs 60.89 lakh crore, up from Rs 58.64 lakh crore in May. The month witnessed the launch of 17 open-ended New Fund Offers (NFOs), raising a total of Rs 15,227 crore. The highest contribution came from sectoral/thematic funds, which mobilised Rs 12,974 crore. Nine sectoral funds were launched during the month

The total assets under management (AUM) of MFs increased by 4% last month, reaching Rs 60.89 lakh crore, up from Rs 58.64 lakh crore in May. The month witnessed the launch of 17 open-ended New Fund Offers (NFOs), raising a total of Rs 15,227 crore. The highest contribution came from sectoral/thematic funds, which mobilised Rs 12,974 crore. Nine sectoral funds were launched during the month.

“SIP flows, NFO collections, and lumpsum purchase on days markets witnessed correction has led to record flows in equity. Credit to the distribution fraternity which has suggested SIPs, STPs across diversified equity schemes, and asset allocation products which has given a pleasant investor experience in mutual funds. As the confidence grows, repeat investments and word of mouth are leading to this movement in flows and industry growth,” said Manish Mehta, National Head-Sales, Marketing & Di ..