New Delhi: Showing a strong surge in retail investor interest, mutual fund industry has seen the number of its new Systematic Investment Plans grow by 18 per cent to 73 lakh at the end of March 2015.
Mostly preferred by small investors, SIP allows investment of a fixed and small sum on a monthly basis or other regular intervals in a mutual fund schemes.
The total SIP count of the industry rose to 73.05 lakh at the end of March this year from 62.10 lakh last year, as per the latest data.
A rally in the stock markets and increased participation from retail investors has helped mutual fund industry get more investments through the systematic investment route, market insiders said.
Besides, a large amount of these SIPs have been added in B-15 cities as investors from smaller towns and areas are showing great interest.
B-15 Cities are smaller cities and towns beyond the top-15 cities including metros like New Delhi, Mumbai Kolkata and Chennai.
Mutual Fund houses have been organising investor education programmes to reach out to retail investors and help them participate in the Indian stock markets through the MF route.
Growth in SIP number is in line with the BSE Sensex surging by 25 per cent in the last financial year.
