Social media key to spreading awareness about mutual funds: Report
Data reveals a parallel increase in India’s social media users and mutual fund investors, with social media subscribers growing from over 40 crores in 2017 to 83+ crores by 2022
Systematic investment plan (SIP) contribution crossed the Rs 13,000 crore mark in October, according to data released by the Association of Mutual Funds of India (AMFI).
The monthly data showed that the SIP contribution of Rs 13,040.64 crore in October was more than Rs 12,976.34 crore in September.
Mutual fund folios crossed an all-time high at 13,90,77,745 crore and retail mutual funds folios too were at an all-time high at 11,08,00,239 crore.
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The mutual fund industry’s net asset under management (AUM) was Rs 39,50,323.28 crore according to the AMFI data.
The number of SIP accounts stood at 5,93,30,069 in October, which was higher by 9,52,385 from September.
New SIPs registered for October 2022 were 19,72,984, the data revealed.
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